Starting a Business on the Sunshine Coast

Congratulations on taking the exciting step towards starting your own business on the beautiful Sunshine Coast! We understand that embarking on this journey can be both exhilarating and daunting. That’s why we’re here to lend a helping hand and guide you through the process every step of the way.

1. Develop Your Business Idea

Your business idea is the cornerstone of your venture. To ensure its success, it’s crucial to thoroughly evaluate its potential. Here are some resources to assist you:

2. Research the Market

Understanding your target market is key to positioning your business for success. Here’s how you can conduct effective market research:

3. Write a Business Plan

Crafting a comprehensive business plan is essential for mapping out your strategies and goals. Even if you’re not seeking external financing, a business plan can provide invaluable clarity. Here are some guides to help you streamline the process:

4. Choose a Name and Register Your Business

In certain instances you can operate under your personal name. However, there are advantages to registering a business name: it enhances marketing efforts and enables transactions under a business identity with banks. Should you decide to register a business name, the initial step involves seeking approval and registering your chosen name. Ensure a smooth registration process with these steps:

5. Seek Financing

Financing is often a critical aspect of launching a business. Explore various financing options tailored to your specific needs:

5. Choose a Name and Register Your Business

In certain instances you can operate under your personal name. However, there are advantages to registering a business name: it enhances marketing efforts and enables transactions under a business identity with banks. Should you decide to register a business name, the initial step involves seeking approval and registering your chosen name. Ensure a smooth registration process with these steps:

6. Secure Your Online Presence

Establishing a strong online presence is essential in today’s digital landscape. Here’s how you can secure your domain name and social media handles:

  • Launching a Website: Follow guidance from Small Business BC on launching your business website.
  • Local Recommendations: Reach out to us for recommendations on local businesses specializing in website creation, social media management, and other online areas you may want to have a business presence.

7. Register for PST and GST

Navigating provincial and federal tax requirements is crucial for compliance. Register for Provincial Sales Tax (PST) and Goods and Services Tax (GST) through the provided links.

8. Apply for a business license on the Sunshine Coast

Depending on where your business is based, you may need to apply for a business license. Additionally, there’s an option for an Inter-Community Business License, which offers flexibility. Through this license, you can pay for one license and operate your business across the lower Sunshine Coast, regardless of the specific municipality.

9. Hire Your Team

Assembling the right team is crucial for the success of your business. Here’s how to navigate the hiring process:

  • Payroll Information: If you’re hiring employees, access payroll information through the Canada Revenue Agency Payroll website. For payroll deduction accounts, visit the BC Business Registry
  • Understand Employment Standards: Familiarize yourself with The Employment Standards Act, proving information on hiring employees and certifications your staff may be required to have.
  • Connect with WorkBC: WorkBC serves as a bridge between job seekers and employers. Utilize their platform to find the perfect talent and foster the growth of your business.

10. Additional Registrations and Requirements

Ensure you fulfill all necessary registrations and requirements pertinent to your business, including:

  • WorkSafeBC: Obtain coverage for work-related injuries or diseases if you’re self-employed or have employees.
  • Licensing and Permits: Identify and apply for relevant permits and licenses through BizPaL. Check out the BC Government’s information on permits & licenses. Some of these may be time consuming, so it’s best to apply as soon as possible.
  • Keeping business records: You are required by law to keep records of all your transactions to be able to support your income and expense claims. The CRA’s business records page goes in to detail.
  • Corporate Income Tax Account: Corporations must register for a Corporate Income Tax account with the Canada Revenue Agency
  • Import/Export Goods: If your business involves importing or exporting goods, registration with the Canada Border Services Agency (CBSA) is essential. As a member of the Sunshine Coast Chamberyou gain access to various Import/Export services such as, the Chamber Import Bonds Program, E-ATA Carnet, and TradeCert: Document Certification. Explore these benefits on our Member Benefits page.

Further Resources

Explore additional resources to support your entrepreneurial journey:

  • Sunshine Coast Community Futures: Offering lending and advisory services to founders and business owners.
  • Women’s Business Support: WeBC (Women’s Enterprise Centre) provides women business owners with skills development, financing, and mentoring support.
  • Financial Services: All Nations Trust Company offers trust, agent, and administrative services, with a focus on Indigenous communities.
  • Government Support: Service BC acts as a frontline support for various provincial government programs and services, ensuring you have the assistance you need to navigate regulatory processes.
  • SkilledTradesBC: This provincial government agency governs and develops the industry training system in British Columbia, ensuring a skilled workforce for the province’s businesses
  • Intellectual Property Guidance: The Canadian Intellectual Property Office (CIPO) offers a series of guides on registering your business’s patents, copyrights, and trademarks, safeguarding your intellectual property rights.
  • Emergency Preparedness: Be proactive and create an emergency preparedness plan for your small business. Small Business BC has a template and a guide for more information on potential emergencies in BC to ensure you and your employees are ready to handle emergencies effectively.
  • Mentorship Support: Seek guidance from experienced mentors through mentorshipbc.ca and enhance your business acumen by becoming a member of the Chamber.

Remember, starting a business is a journey, and we’re here to support you every step of the way. Feel free to reach out for assistance or guidance as you embark on this exciting endeavour!