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SOLE PROPRIETORSHIP

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Start Checklist for Sole Proprietorship


A sole proprietorship is a business owned, operated, and managed by a single person. It is the simplest type of business. As a sole proprietor, you are not required to register your business if you plan to use your own name as the business name.

Choose a business name
If you plan to operate your own name as the business name, you are not required to register your business name. Skip the next two steps.

Have your name searched
Once a name is chosen, you must obtain an Alberta Search Report. Your name is searched against all corporations, trademarks, and business names. The report must be submitted with your registration. You must hire a search house to provide the search report. A search house can be found in the Yellow Pages under Trade Mark Agents, Incorporating Companies, or Searchers of Records.

Register your trade name with the Alberta Corporate Registry
To register, you must hire an authorized service provider. The authorized service provider will verify that your information meets the current legislative requirements. Once the name is approved, the service provider will file a Declaration of Trade Name and the search report with the Corporate Registry. You must file within 30 days of starting your business.

For information and a list of authorized service providers:
www.gov.ab.ca/gs

Obtain a business license from your municipal government
You are required to obtain a business license in the municipalities in which you do business. Municipal governments normally issue licenses and permits for business premises, zoning, land use, construction, business renovations, and commercial vehicles.

For information:
www.gov.edmonton.ab.ca

Obtain business license from the provincial government
You may be required to obtain a provincial business license. There are provincial acts and regulations which apply to many businesses, including transportation, food, retail, manufacturing, and service businesses.

To find out whether your business requires a provincial license:
www.gov.ab.ca/gs
To obtain copies of the acts and regulations:
www.gov.ab.ca/qp

Register with the Workers’ Compensation Board (WCB)
Most businesses are required to register with the WCB. It is your responsibility as an employer to check whether you are required to register. You are required to register within 15 days of hiring your first employee. Sole proprietors and their spouses, as well as independent operators who are neither employers nor employees, are not automatically entitled to compensation benefits.
Voluntary coverage is available from WCB if you belong to one of these groups.

To register or to obtain additional information:
www.wcb.ab.ca

Obtain information on the Employment Standards Code
The Employment Standards Code sets the minimum standards for wages and employment conditions in Alberta. If you plan to hire employees or subcontract labor, you are required to meet these standards.

To obtain information on the act:
www.gov.ab.ca/lab

Obtain a Business Number
As a sole proprietor, you are required to register for a business number if you plan to open a business account with Canada Customs and Revenue Agency. You require a business number to report GST, submit payroll deductions, or import/export goods.

To obtain information on registering:
www.cra-arc.gc.ca/

Open a Goods and Services Tax (GST) account with Canada Customs and Revenue Agency
You are required to register for and charge GST:
If you sell taxable goods or services in Canada and your annual revenue is greater than $30,000,
OR
If you want to recover the GST paid on purchases and expenses related to running your business.

To register, contact the nearest Canada Customs and Revenue Agency office to obtain a Request for Business Number form. You will need it to open a GST account.

For information:
www.cra-arc.gc.ca/

Open a payroll deduction account with Canada Customs and Revenue Agency
If you have people working for you, you are considered to be an employer. As an employer, you are required to open a payroll account with Canada Customs and Revenue Agency and make regular deductions from your employees’ paycheques for income tax, Canada Pension Plan, and Employment Insurance.

To register, contact the nearest Canada Customs and Revenue Agency office to obtain a Request for Business Number form. You will need it to open a payroll deduction account.
www.cra-arc.gc.ca/

Open an import/export account with Canada Customs and Revenue Agency
If you plan to buy or sell goods outside Canada, you must open an import/export account. To obtain the form, contact the nearest Canada Customs and Revenue Agency office.

Before you import  or export goods, you should obtain the proper permits, certificates, and examination, and follow the rules and regulations for importing and exporting goods. For information, contact the nearest Canada Customs Office.

For information:
www.cra-arc.gc.ca/

 

Obtain a federal license to report excise taxes and duties
Certain goods you manufacture, produce, or import are subject to excise taxes and duties. As a manufacturer or wholesaler, you are required to obtain an excise license. Contact your local Canada Customs and Revenue Agency tax service office to obtain a complete list of products.

For information:
www.cra-arc.gc.ca/


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