Spotlight: Start me up: How to start a new small business in Ontario

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When is the best time to set up a new small business in Ontario?

There are always arguments about how the economy could be better, how consumer spending is low, interest rates are high, and good help is hard to find. But the truth is that if you have a solid business idea and the will and planning to execute it, the right time is probably now.

Understanding government requirements One of the key hurdles for new businesses is a lack of familiarity with the many requirements you’re responsible for meeting. Government requirements also differ by province. Estimating business start-up costs A small business in Ontario is simply any enterprise with between 1-99 employees. They can be vastly different in operations, and setting up something with one employee versus 99 is going to represent disparate costs.

Luckily, the Government of Ontario offers advice on how to start your business and gives an extended list of provincial funding sources that could apply to your business. The federal government also gives out business grants to support small enterprises.

 

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