Registered Sole Proprietorship Business Name

After I spoke with the lawyer and the accountant, and after doing a lot of research, I finally decided to setup my business as a sole proprietorship.  Since I have a name already, I went ahead to register it.

Disclaimer: I am not a lawyer or an accountant.  Please do your own research and find a good lawyer and accountant to discuss what is best for your situation.

Registration of Sole Proprietorship

I did a lot of research in order to make this decision.  Basically, the sole proprietorship business costs $60 to register for the name, and it is valid for 5 years.  Here are two of the many links I checked out to get all the information.

Service Ontario – Register for Business Name

Starting Business in Canada

Wes Bos’s lessons learnt about sole proprietorship

New Business Now – 8 steps to establish sole proprietorship

Young and Thrifty – Sole proprietorship to corporation

And there are many many other sites.  Search for your own location to get more information!

I confess that reading through these articles make my head hurt, and I am super scared!  Everything seems so involved!  My decision for going for the sole proprietorship structure is because I don’t think I will make that much money to begin with.  So I will get this started first, and once it starts to grow, I will incorporate later?

Anyway, I registered the name today!  And I have set up an appointment to open my bank account soon!  I am super excited!

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