Regulatory Issues

It is extremely important that you understand all regulatory/ government requirements before starting your new business. There are two reasons for this:

1. Once you are in business you will find it very difficult to find the time to research and fill out the necessary applications.
2. If you are slow to satisfy these requirements the applicable government agencies have the power to shut your business down.

Health, Fire, and Safety Building Inspections

Ensure that the building where you intend to house your proposed business meets all the requirements, that the City, or applicable Authority requires.

Business Licensing

• Check out what types of business licenses are required and the cost for your business.
• Ensure that you can obtain a license for your proposed business.
• If you are going to be operating your business throughout the Greater Trail area, a regional business license is available at less cost than purchasing a license in each town or city.
• If you are going to be operating your business in an unincorporated area you will not require a business license.
• Participation in trade fairs and shows does not normally require a business license.

Trade Name Registration

• If you are going to be operating the business under any name other than your own a search should be done to make sure that the name is available and (if it is available) protect it by registering that name.
• The BC Access Centre has the forms necessary to search and register the business name. The present cost is $35.00 for each function (Search & Registration).
• All functions at the access centre can now be completed online by the client.

Labelling Information

• If you are manufacturing a product in some cases it will need to meet government specifications. These products will have to have a label identifying which specifications the product meets. An example would be products meeting CSA specifications.
• Also some products such as foods must carry a label that identifies the components and the amount of each item.

Intellectual Property Protection, Patents, Copyrights and Trademarks

Will your products, services or processes require protection? Do you have a plan and the necessary funds to accomplish this? Do you have any existing proprietary advantages?

PST, GST, WCB and Revenue Canada Accounts

• Are you required to charge PST? GST participation is optional if your sales, within any 12-month period, are less than $30,000. It still may be financially beneficial to register, because all GST paid in the past on items you bring into the new business is refundable.
• If you are going to be paying yourself a wage or hiring staff, source deductions (UIC, CPP, etc . . .) must be extracted from the payroll each month and forwarded to Revenue Canada. Businesses are now given a BIN number (Business Identification Number) for GST and Payroll deduction identification purposes.
• Workers Compensation is available to business owners and coverage is mandatory for every employee.