{"id":111,"date":"2026-03-07T12:30:13","date_gmt":"2026-03-07T17:30:13","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/?post_type=chapter&#038;p=111"},"modified":"2026-03-23T08:34:42","modified_gmt":"2026-03-23T12:34:42","slug":"registering-and-setting-up-your-business","status":"publish","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/chapter\/registering-and-setting-up-your-business\/","title":{"raw":"Registering and Setting up Your Business","rendered":"Registering and Setting up Your Business"},"content":{"raw":"<figure class=\"wp-block-image size-large\"><img src=\"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-content\/uploads\/sites\/832\/2026\/03\/desk-paperwork.jpg\" alt=\"Desk with paperwork representing business registration and setup\" style=\"width:100%;height:auto\" \/><figcaption><em style=\"font-size:0.8em;color:#999\">Photo by Unsplash, free to use<\/em><\/figcaption><\/figure>\n\n<p><strong>Setting up your business properly from the start saves headaches later.<\/strong><\/p>\n\n<p>Starting a business involves more than having the skills to perform the work. Entrepreneurs must also establish the business legally and set up the systems that allow it to operate professionally. Registering a business ensures that it can operate under a legal name, open bank accounts, apply for permits and licenses, and build credibility with customers and suppliers. For many entrepreneurs, this step marks the transition from a side project to a real business.<\/p>\n\n<div class=\"textbox textbox--learning-objectives\"><header class=\"textbox__header\"><h2 class=\"textbox__title\">Learning Objectives<\/h2><\/header><div class=\"textbox__content\"><p>By the end of this chapter, you will be able to:<\/p><ul><li>Describe the steps required to legally register a business in British Columbia<\/li><li>Identify the tax accounts a new business may need and the thresholds that trigger them<\/li><li>Explain the roles of bookkeepers and accountants in a small trades business<\/li><li>Understand municipal and inter-municipal licensing requirements for contractors<\/li><\/ul><\/div><\/div>\n\n<h2>Registering Your Business<\/h2>\n<p>Once you have decided to move forward, one of the first steps is registering the business. In British Columbia, most small businesses are registered through BC Registries and Online Services at <a href=\"https:\/\/www.bcregistry.gov.bc.ca\">bcregistry.gov.bc.ca<\/a>. During registration you will provide your business name, contact information, business address, ownership information, and business structure. Many trades entrepreneurs begin as a sole proprietorship and transition to other structures later as the business grows.<\/p>\n\n<h2>Choosing a Business Name<\/h2>\n<p>Most entrepreneurs want to operate under a name that reflects their company rather than their personal name. Before registering, you must confirm that the name is available and not already in use. In British Columbia this is done through a Name Request submitted through the BC Registries portal. The provincial registry reviews your proposed name to confirm it is unique and follows naming guidelines. Once approved, the name is reserved for 56 days \u2014 giving you time to complete the registration.<\/p>\n\n<h2>Registering for Tax Accounts<\/h2>\n<p>Once your business is registered you may need to set up tax accounts with the Canada Revenue Agency. If your annual revenue exceeds $30,000 in a 12-month period you must register to collect and remit GST. If you hire employees you will need a payroll account to deduct and remit income tax, Canada Pension Plan contributions, and Employment Insurance. More information is available at <a href=\"https:\/\/www.canada.ca\/en\/services\/taxes\/business-number.html\">canada.ca\/en\/services\/taxes\/business-number<\/a>.<\/p>\n\n<h2>Bookkeepers and Accountants<\/h2>\n<p>Many entrepreneurs manage their own bookkeeping when they start out. As the business grows, financial management becomes more complex and the cost of mistakes goes up. A bookkeeper handles day-to-day financial records: recording income and expenses, organizing receipts, managing invoices, and reconciling bank accounts. An accountant focuses on higher-level work including preparing financial statements, tax planning, filing business tax returns, and helping you understand your overall financial position.<\/p>\n<p>For trades entrepreneurs who spend most of their time on jobsites, having reliable financial support is not a luxury \u2014 it is a practical necessity. The best entrepreneurs treat their accountant and bookkeeper as trusted advisors, not just service providers.<\/p>\n\n<h2>Opening a Business Bank Account<\/h2>\n<p>Keeping business and personal finances separate is one of the simplest and most important things a new entrepreneur can do. It makes tracking revenue and expenses more accurate, simplifies bookkeeping and tax reporting, and signals professionalism to customers and lenders. Banks typically require proof of business registration, identification, and your business number. Setting this up early makes the business far easier to manage as it grows.<\/p>\n\n<h2>Municipal Business Licenses<\/h2>\n<p>Most municipalities require businesses operating within their jurisdiction to obtain a municipal business license. These licenses allow local governments to regulate business activity and ensure compliance with local bylaws covering zoning, contractor accountability, and consumer protection. A contractor based in Surrey, for example, must typically obtain a Surrey business license before operating there. Requirements vary by community, so always check with the local municipality where your business is based.<\/p>\n<p>Trades businesses often work across several municipalities, which can mean navigating multiple licensing requirements. Some regions in BC participate in Inter-Municipal Business Licence agreements that allow a business licensed in one municipality to operate in other participating municipalities with a single additional endorsement. The Fraser Valley Inter-Municipal Licence covers Abbotsford, Chilliwack, Delta, Hope, Kent, Langley City and Township, Maple Ridge, Mission, Pitt Meadows, and Surrey. The Metro West Inter-Municipal Licence covers Burnaby, Delta, New Westminster, Richmond, Surrey, and Vancouver. Before beginning work in a new municipality, always verify the local licensing requirements.<\/p>\n\n[h5p id=\"19\"]\n\n<div class=\"textbox textbox--key-takeaways\"><header class=\"textbox__header\"><h2 class=\"textbox__title\">Key Takeaways<\/h2><\/header><div class=\"textbox__content\"><ul><li>Registering your business through BC Registries is one of the first formal steps \u2014 it enables you to operate legally, open bank accounts, and apply for licenses.<\/li><li>You may need a GST account once annual revenue exceeds $30,000, and a payroll account if you hire employees.<\/li><li>Keeping business and personal finances separate through a dedicated bank account is simple and essential from day one.<\/li><li>Trades businesses working across multiple municipalities may be eligible for inter-municipal business licence agreements that reduce paperwork and cost.<\/li><\/ul><\/div><\/div>\n\n<h2>Reflect<\/h2>\n<p>What feels most daunting about setting up the administrative side of a business? At what point in your growth would you consider hiring a bookkeeper or accountant? Why is separating your business and personal finances so important in the early stages \u2014 and what could go wrong if you skipped that step?<\/p>","rendered":"<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-content\/uploads\/sites\/832\/2026\/03\/desk-paperwork.jpg\" alt=\"Desk with paperwork representing business registration and setup\" style=\"width:100%;height:auto\" \/><figcaption><em style=\"font-size:0.8em;color:#999\">Photo by Unsplash, free to use<\/em><\/figcaption><\/figure>\n<p><strong>Setting up your business properly from the start saves headaches later.<\/strong><\/p>\n<p>Starting a business involves more than having the skills to perform the work. Entrepreneurs must also establish the business legally and set up the systems that allow it to operate professionally. Registering a business ensures that it can operate under a legal name, open bank accounts, apply for permits and licenses, and build credibility with customers and suppliers. For many entrepreneurs, this step marks the transition from a side project to a real business.<\/p>\n<div class=\"textbox textbox--learning-objectives\">\n<header class=\"textbox__header\">\n<h2 class=\"textbox__title\">Learning Objectives<\/h2>\n<\/header>\n<div class=\"textbox__content\">\n<p>By the end of this chapter, you will be able to:<\/p>\n<ul>\n<li>Describe the steps required to legally register a business in British Columbia<\/li>\n<li>Identify the tax accounts a new business may need and the thresholds that trigger them<\/li>\n<li>Explain the roles of bookkeepers and accountants in a small trades business<\/li>\n<li>Understand municipal and inter-municipal licensing requirements for contractors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Registering Your Business<\/h2>\n<p>Once you have decided to move forward, one of the first steps is registering the business. In British Columbia, most small businesses are registered through BC Registries and Online Services at <a href=\"https:\/\/www.bcregistry.gov.bc.ca\">bcregistry.gov.bc.ca<\/a>. During registration you will provide your business name, contact information, business address, ownership information, and business structure. Many trades entrepreneurs begin as a sole proprietorship and transition to other structures later as the business grows.<\/p>\n<h2>Choosing a Business Name<\/h2>\n<p>Most entrepreneurs want to operate under a name that reflects their company rather than their personal name. Before registering, you must confirm that the name is available and not already in use. In British Columbia this is done through a Name Request submitted through the BC Registries portal. The provincial registry reviews your proposed name to confirm it is unique and follows naming guidelines. Once approved, the name is reserved for 56 days \u2014 giving you time to complete the registration.<\/p>\n<h2>Registering for Tax Accounts<\/h2>\n<p>Once your business is registered you may need to set up tax accounts with the Canada Revenue Agency. If your annual revenue exceeds $30,000 in a 12-month period you must register to collect and remit GST. If you hire employees you will need a payroll account to deduct and remit income tax, Canada Pension Plan contributions, and Employment Insurance. More information is available at <a href=\"https:\/\/www.canada.ca\/en\/services\/taxes\/business-number.html\">canada.ca\/en\/services\/taxes\/business-number<\/a>.<\/p>\n<h2>Bookkeepers and Accountants<\/h2>\n<p>Many entrepreneurs manage their own bookkeeping when they start out. As the business grows, financial management becomes more complex and the cost of mistakes goes up. A bookkeeper handles day-to-day financial records: recording income and expenses, organizing receipts, managing invoices, and reconciling bank accounts. An accountant focuses on higher-level work including preparing financial statements, tax planning, filing business tax returns, and helping you understand your overall financial position.<\/p>\n<p>For trades entrepreneurs who spend most of their time on jobsites, having reliable financial support is not a luxury \u2014 it is a practical necessity. The best entrepreneurs treat their accountant and bookkeeper as trusted advisors, not just service providers.<\/p>\n<h2>Opening a Business Bank Account<\/h2>\n<p>Keeping business and personal finances separate is one of the simplest and most important things a new entrepreneur can do. It makes tracking revenue and expenses more accurate, simplifies bookkeeping and tax reporting, and signals professionalism to customers and lenders. Banks typically require proof of business registration, identification, and your business number. Setting this up early makes the business far easier to manage as it grows.<\/p>\n<h2>Municipal Business Licenses<\/h2>\n<p>Most municipalities require businesses operating within their jurisdiction to obtain a municipal business license. These licenses allow local governments to regulate business activity and ensure compliance with local bylaws covering zoning, contractor accountability, and consumer protection. A contractor based in Surrey, for example, must typically obtain a Surrey business license before operating there. Requirements vary by community, so always check with the local municipality where your business is based.<\/p>\n<p>Trades businesses often work across several municipalities, which can mean navigating multiple licensing requirements. Some regions in BC participate in Inter-Municipal Business Licence agreements that allow a business licensed in one municipality to operate in other participating municipalities with a single additional endorsement. The Fraser Valley Inter-Municipal Licence covers Abbotsford, Chilliwack, Delta, Hope, Kent, Langley City and Township, Maple Ridge, Mission, Pitt Meadows, and Surrey. The Metro West Inter-Municipal Licence covers Burnaby, Delta, New Westminster, Richmond, Surrey, and Vancouver. Before beginning work in a new municipality, always verify the local licensing requirements.<\/p>\n<div id=\"h5p-19\">\n<div class=\"h5p-iframe-wrapper\"><iframe id=\"h5p-iframe-19\" class=\"h5p-iframe\" data-content-id=\"19\" style=\"height:1px\" src=\"about:blank\" frameBorder=\"0\" scrolling=\"no\" title=\"Business Startup Checklist\"><\/iframe><\/div>\n<\/div>\n<div class=\"textbox textbox--key-takeaways\">\n<header class=\"textbox__header\">\n<h2 class=\"textbox__title\">Key Takeaways<\/h2>\n<\/header>\n<div class=\"textbox__content\">\n<ul>\n<li>Registering your business through BC Registries is one of the first formal steps \u2014 it enables you to operate legally, open bank accounts, and apply for licenses.<\/li>\n<li>You may need a GST account once annual revenue exceeds $30,000, and a payroll account if you hire employees.<\/li>\n<li>Keeping business and personal finances separate through a dedicated bank account is simple and essential from day one.<\/li>\n<li>Trades businesses working across multiple municipalities may be eligible for inter-municipal business licence agreements that reduce paperwork and cost.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Reflect<\/h2>\n<p>What feels most daunting about setting up the administrative side of a business? At what point in your growth would you consider hiring a bookkeeper or accountant? Why is separating your business and personal finances so important in the early stages \u2014 and what could go wrong if you skipped that step?<\/p>\n","protected":false},"author":422,"menu_order":2,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-111","chapter","type-chapter","status-publish","hentry"],"part":107,"_links":{"self":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapters\/111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/wp\/v2\/users\/422"}],"version-history":[{"count":14,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapters\/111\/revisions"}],"predecessor-version":[{"id":1008,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapters\/111\/revisions\/1008"}],"part":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/parts\/107"}],"metadata":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapters\/111\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/wp\/v2\/media?parent=111"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/pressbooks\/v2\/chapter-type?post=111"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/wp\/v2\/contributor?post=111"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/app2ceo\/wp-json\/wp\/v2\/license?post=111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}