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How much does it cost to start a business in Canada

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People discussing the cost to start a business in Canada

If you are thinking of relocating to Canada with the intention of creating your own business, you likely have many questions in mind. For example, you probably want to know how much does it cost to start a business in Canada? Luckily, we’re here to tell you about all of the essential factors that will help you determine the overall cost of starting a business here. Meanwhile, enlist the help of trusted movers such as Number 1 Movers Van Lines to assist you if you wish to have a stress-free moving experience.

Key factors to consider when starting a business in Canada

When it comes down to starting a business, regardless of the location, there are going to be several important factors that you will need to consider. Figuring out the exact cost is going to be impossible and there are many different things to consider. However, we can provide you with a couple of things to go by that will likely help you establish an estimated cost. The 6 most important ones are the following:

  • Office space. Finding the right office space is crucial. Considering the size, location, etc. will also make the final cost different.
  • Furniture and office equipment. Workers and customers need somewhere to sit and work. There are many things that go into the office inventory aside from the office equipment.
  • Supplies. Depending on the type of your business, you will have a ton of different supplies.
  • Legal prices. In Canada, these prices vary depending on the location. However, for legal prices of starting your own business, you are looking at around $500 to upwards of $10,000.
  • Business registration fees. Each business needs to be registered to operate legally.
Calculating how much does it cost to start a business in Canada.
Calculating how much does it cost to start a business in Canada means taking into consideration all of the key factors.

In case you plan on moving your office from one location to another in Canada, it is best to contact reliable commercial movers Hamilton to help you out.

MBL or Business Registration as a starting point

When first starting your business, the MBL or Master Business License is an excellent first step. You can choose to register either a Sole Proprietorship or General Partnership as a Canadian small business. These kinds of registrations are simple and have the lowest setup fees. Each province has its own fees and they are as follows:

  • Ontario: starts at $134 plus tax
  • Alberta: starts at $113 + tax
  • BC: starts at $168 + tax
  • Manitoba: starts at $203
  • Saskatchewan: starts at $225

Of course, when moving items, have trusted commercial moving companies Toronto to help you out with the relocation of your items to avoid having to worry about the safe transportation of your inventory.

Incorporating your business

Another option is to incorporate your business in Canada. You will have a higher business startup cost but a few other perks as well. Possible tax advantages, no renewal requirements, name protection, etc. You can choose to incorporate it federally or provincially. Doing additional research is a must as prices will also differ depending on the region of Canada you plan to start a business.

A deal.
Choose the best option for your business when it comes to startup options.

The estimated cost to start a business in Canada and relocation

Overall, there are a ton of factors to consider when trying to figure out the cost to start a business in Canada. However, with a few key factors in mind, and after you research fees and region registration details for business startups, you can estimate your cost relatively easily. Once you do, make sure you have trustworthy commercial movers Mississauga helping you move your office inventory.