The District has assembled a collection of links and resources from all over Canada to help aspiring entrepreneurs, businesspeople looking to relocate to the Okanagan or current businesses in the community.
Starting a business
1. Business Plan
The first step in starting a business is to develop a business plan. Small Business BC and the Business Development Bank of Canada have put together excellent guides to developing business plans.
After you have developed your business plan, you need to find funding for your business. Many small businesses begin with investments from the owner’s family and friends. There are also resources available through the provincial and federal governments.
3. Registration and Incorporation
Now that you have put together your business plan and prepared your financing, it’s time to register your business name and incorporate your business. First, register your name through BC Registry Services or OneStop Business registry.
Once you have registered your business name, you need to either register your business with OneStop Business Registry, or incorporate your business through BC Registry Services.
4. HST Registration
Depending on the level of sales you expect, you may need to collect and pay HST. Be aware that this may change as the province of BC returns to the GST/PST model of sales taxation. You will register to collect HST through the Canada Revenue Agency.
5. Business License
Don’t forget to apply for a Business License from the District of Lake Country. All businesses operating in the District are required to have a valid Business License. The friendly staff at the District of Lake Country will be happy to help you apply for a Business License.