Tips from TAP – 16 tasks to consider when starting a business.

1. Evaluate your idea – is it feasible?
2. Do some market research.
3. Develop a business plan
4. Arrange financing
5. Decide on your business structure – Sole proprietorship, Partnership or corporation.
6. Decide on a business name and do a name search
7. Register the business.
8. Open a business bank account
9. Consider registering a domain name for a website
10. Call Revenue Canada (CRA) and get a business number, and register for GST and payroll taxes if you will have employees.
11. Call the Minister of Finance and register for PST if you will be selling goods.
12. Open a Worksafe BC Account.
13. Obtain a business license from the city or municipality
14. Determine if there are industry specific licenses or permits needed.
15. Purchase business insurance.
16. Talk to a bookkeeper about the recordkeeping required for the business.

Download the printable PDF.