7 Points that a Canadian Small Business Owner should know

As a Canadian small business owner, there are several important points that you should be aware of to help ensure the success and legality of your business. Here are a few key considerations:

1. Register your business: In Canada, you need to register your business with the government before you can start operating. This process can vary depending on the province or territory where you’re located.
2. Obtain the necessary licenses and permits: Depending on your business type and location, you may need to obtain various licenses and permits to operate legally. This can include business licenses, liquor licenses, and health permits, among others.
3. Comply with tax laws: It’s important to be aware of Canadian tax laws and to comply with them. This includes registering for a Business Number and Goods and Services Tax/Harmonized Sales Tax (GST/HST) and filing regular tax returns.
4. Protect your intellectual property: If you have unique products, services, or branding, consider protecting your intellectual property through trademarks, patents, or copyrights.
5. Consider liability insurance: Liability insurance can help protect your business against potential legal claims. Consider obtaining liability insurance coverage that meets the specific needs of your business.
6. Be aware of employment laws: In Canada, there are various employment laws and regulations that you must comply with as a small business owner, including minimum wage laws, hours of work laws, and health and safety regulations.
7. Maintain good business relationships: Building and maintaining good relationships with your employees, customers, suppliers, and other stakeholders is important for the success of your business.

By being aware of these key considerations, you can help ensure that your small business is operating legally and ethically, and set yourself up for long-term success.