Business Registration Ontario
Register Your Business in Ontario (Sole Proprietorship, Trade Name and General Partnership)
Starting a business, (Corporation, Sole Proprietorship, Trade Name partnership) in Ontario is now more easier with Business Ontario. We are a member of Service Ontario that’s why we can register your business in 1 Business Hour. There are short descriptions below:
Service Fees $49
For all regular type of business.
Add on Available : Pick & Choose
Agency Fees Start at $49
Government Fees Included
Add-on Available: Pick & Choose
Agency Fees Start at $49
Government Fees Included
Add-on Available: Pick & Choose
Service Fees $49
For all regular type of business.
Add on Available : Pick & Choose
Service Fees $49
For all regular type of business.
Add on Available : Pick & Choose
Service Fees $49
For all regular type of business.
Add on Available : Pick & Choose
Sole Proprietorship:
A Sole Proprietorship is a simple and commonly used business structure where one individual owns and operates the business. This form of business is easy to establish with minimal regulatory requirements, making it ideal for small business owners and freelancers. The owner of a sole proprietorship has complete control over the business decisions but also bears all the risks, as there is no legal distinction between the owner and the business. This means personal assets can be used to cover business debts. Profits from the business are reported as personal income, simplifying the tax process but potentially leading to higher taxes for profitable businesses.
General Partnership:
A General Partnership is a business structure where two or more individuals own and operate a business together. This arrangement allows partners to share profits, liabilities, and management responsibilities. Unlike corporations, a general partnership does not require formal incorporation and is relatively easy to form, often just requiring a partnership agreement. However, each partner in a general partnership is personally liable for the debts and obligations of the business, which can include the actions of the other partners. This shared liability is a significant aspect to consider, as it means personal assets can be at risk. General partnerships offer the benefit of combined skills and resources, but they also require trust and good communication among partners to be successful.
Trade Name/DBA/Operating Name:
A Trade Name, also known as Doing Business As (DBA) or an Operating Name, is a name used by a business that is different from the legal name of the business entity. This is commonly used when the legal name of a business is not suitable for marketing purposes or if the business wants to operate under a different name for a specific line of products or services. Registering a DBA allows a company to conduct business under a new name without having to create a completely new legal entity. This is particularly useful for sole proprietors and partnerships, as it enables them to present a more market-friendly business identity while keeping the legal structure simple. However, a trade name does not offer legal protection for the name itself and does not provide liability protection or legal separation from the business entity.
Master Business Licence:
There is no more Master Business Licences in Ontario since Oct. 19,2021
Now it is called Business Name Registration.
Master Business License (MBL) in Ontario, Canada, is a document that formally registers a business with the provincial government. It’s essential for businesses operating as sole proprietorships, partnerships, or trade names under a corporation. Obtaining an MBL allows these business types to legally conduct business under a specific name in Ontario.
The process of acquiring a Master Business License involves choosing a unique business name and ensuring it complies with Ontario’s business naming rules. Once registered, the MBL is valid for five years and must be renewed thereafter. This license also makes the business name publicly searchable, providing some level of name protection within the province. However, it’s important to note that the MBL does not provide trademark protection and is different from incorporating a business. The MBL is more about business name registration and doesn’t offer the legal protections and benefits of a corporate structure.
