Starting Your Business
Starting a small business carries both excitement and a fair share of stress. The Ridge Meadows Chamber of Commerce has curated a compilation of quick steps for you to achieve your new business goals.
1. Initiate your business plan by jotting down your ideas and aspirations. This practice fuels creativity and serves as a fundamental step in commencing your business.
2. Select your business structure. There are three common types of businesses. More information on Small Business BC (SBBC) can help direct you to your optimal choice in this process.
3. Time to draft your business plan! Visit SBBC here for the Seven Key Sections of a Business Plan.
4. Financing can be overwhelming during this process. The Government of Canada’s website here will provide more information.
5. Choosing a business name and gaining provincial registry approval marks an initial business step. Easily manage this process online here.
6. Begin crafting a website. Should you need a company to design your website, reach out to the Ridge Meadows Chamber for a referral to one of our esteemed members.
7. Register your business for taxes and fulfill various government requisites and visit BizPal for further resources on what your business will need to register for:
- Goods and Services Tax (GST)
- Biz Pal
8. Familiarize yourself with additional business registrations and obligations here.
9. Identify permit and licensing necessities for various business types here.
10. Gain support and recognition by becoming a member of the Ridge Meadows Chamber of Commerce! Join today here.
Resources
Employers, listen up! Compliance with the "Employment Standards Act" is a must. Check it out online via the provincial government's resources.
Anticipating revenue over $30,000 from GST-taxable goods or services? You'll need to register for the GST. Don't sweat it, the forms are online or just give the Canada Revenue Agency a ring at 800-959-5525.
Tax time! Whether you're an individual or a corporation, provincial and federal income tax is on the horizon. If you're a self-employed sole proprietor or partner, you'll handle income and expenses along with your personal tax return.
Local licenses are City of Maple Ridge territory. Get your Business license application forms from the Bylaw, Licensing & Community Safety Department. Fees start at $110, varying based on the type of business.
Need help navigating the business landscape? Our Economic Development Department is your go-to for site selection, crafting business plans, crunching economic data, and staying on top of market trends. Give them a ring at 604-467-7320.
Dealing with taxable goods? You'll likely need a Provincial Sales Tax (PST) license. Connect with the Consumer Taxation Branch for the lowdown.
Safety first! New businesses need to register with WorkSafe British Columbia's Assessment Department. Most businesses are covered, but it's your responsibility to ensure your company's registration. Reach out to WorkSafe British Columbia for guidance.
