1. My Own Business The Business Plan

2. The Plan A business plan is a written document that describes your business objectives and strategies, your financial forecasts and the market you are targeting. It will help you set realistic and timely goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts. Preparing your plan will help you focus on how to operate your new business and give it the best chance for success.

3. Securing Financing Canada Business can help you find government financing options for your business. There are programs that apply to businesses across Canada, and others that apply only to businesses in Ontario. Use the Canada Business financing search tool or browse by type of financing. You can also access Canada Business information through the ONe- Source online financing wizard. The wizard guides you through 3 easy steps to create a personalized list of results for Ontario business financing programs. Search online: Canada Business: Government grants and financing ONe-Source Ontario Business Financing Guide

4. Choosing a Business Structure When starting your business, choose the business structure that best suits your needs. The three most common business structures are: Sole proprietorship General partnership Incorporation

5. Choosing a Business Name Before registering your business, you should decide what you want your business name to be. The right name can be an effective advertising tool that can help your customers understand what your business does and which market you are targeting. Some points to consider when naming your business: Short names are easier to remember Descriptive names can help people understand what your company sells Professional names can fit the image you want to project Unique names ensure that the name is not already in use Your business name is an important part of your business identity. Choose a name that will fit your needs and suit your business image.

6. Choosing a Location For most businesses, choosing an appropriate location is critical, and the address is often needed for registrations, licences and permits. Your ideal location will depend on your business needs, zoning restrictions, and where your customers and competitors are. Taxes, noise and the local business environment are also important factors to consider when reviewing your options. If you are considering setting up your business in your home, make sure you know what regulations and restrictions will apply to your home-based business before you start.

7. How to Register Your Business Name Business name registration applies to entrepreneurs who want to register a sole proprietorship, a partnership or an operating name (trade name) for a corporation. You can complete an optional name search and register your business in the following ways: Through ServiceOntario's website In person at a ServiceOntario centre By mailing an application to the address indicated on the form The cost to register your business ranges from $60 to $80. Your registration is valid for five years at which time it must be renewed.

8. Regulations, Licences and Permits Your business may need licences and permits from the federal, provincial and municipal levels of government. In addition to the information you will find in this guide, you can use the Canada Business Permits and Licenses Search, powered by BizPaL, to find licences and regulations that may affect your business. You can also contact us to speak to someone about starting your business.

9. Business Number Registration Your Business Number is your single account number for dealing with the federal government regarding taxes, payroll, import/export and other activities. If you plan to hire employees, or if you will be importing and/or exporting products or services, you will need to get a business number. If you sell goods and services in Ontario, you may need a business number to charge and remit the Harmonized Sales Tax (HST). Speak with the Canada Revenue Agency (CRA) for more information.

10. Taxation Depending on your location and the type of products or services being offered, federal, provincial and/or municipal business taxes may also apply.

11. Hiring Employees It is important that you know your obligations and opportunities when it comes to hiring employees, and familiarize yourself with current labour market conditions. Some of the things you will want to consider when hiring staff are: Recruitment practices Payroll Tax returns Employment standards

12. Other Resources Managing From day-to-day operations to long-term planning, learn how to manage your business efficiently. Associations If you are interested in finding an association, use our secondary market research service request and have us search for one based on your needs. Business organizations Small Business Enterprise Centres Visit a Small Business Enterprise Centre to speak with knowledgeable general business consultants, attend seminars, and access business publications. Search online: Small Business Enterprise CentresSmall Business Enterprise Centres Community Futures Development Corporations (CFDC) Access information and financing for businesses in Northern Ontario and rural areas of Southern and Eastern Ontario. Contact CFDC: 1-866-668-2332 Community Futures Development Corporations in Ontario Community Futures Development Corporations in Ontario

13. Ministry of Economic Development, Trade and Employment Find information about Ontario's small business community, and connect to the people and resources you need to improve competitiveness and profitability. Contact the Ministry of Economic Development, Trade and Employment: 1-866-668-4249 Ministry of Economic Development, Trade and Employment Ministry of Economic Development, Trade and Employment Business Development Bank of Canada (BDC) Access a wide range of business counselling and training programs, including workshops, seminars and business management courses. Program costs will vary. Contact BDC: 1-877-232-2269 Business Development Bank of Canada Business Development Bank of Canada The Canadian Trade Commissioner Service (TCS) Learn how global value chains can improve competitiveness, profitability and long- term sustainability for your business. Contact TCS: 1-888-306-9991 Global Value Chains Global Value Chains