Who here has there own buisiness ??

What do I have to do to regester a company name so I can start marketing etc and be protected from people ripping off my name etc . Me and my buddie have a buisiness plan and want to get this rolling . How do I go about securing a domain name and what are the costs of a website and upkeep ??

 

do u want it incorporated or a partnership?
Before you secure a website you can reseeerve them pending the approva of the name. You can buy a kit at chapters~$25 that gives you the forms and instructions to register a company. There is also a registration fee. I have a limited comany and it cost me, includuing Laywer fees, $350-400 to ge the name and get it registered. This also got me the GST #, incorporation papers, etc.

 

how long do you have the name for after you register it.
if you register a company name do you have to have a company or can you just buy it now so when you go to start one you already have the name .
i have a few ideas and i have a name but i have no idea how to do anything else.

 

Im not sure . . . . I just want the company name to be secured and registered to us . The gst app form I have heard of before , what costs 400 $

We too have a few ideas

 

I am in the process of registering my company as a legal business. Like Sandeep said, you need to get a kit to register the name, get a GST#, and legalize your bunsiness. No need to buy one, just go the the government website. This process will cost you ~$300.

As for the website, you need to first register a domain name. I purchased all of my domain names for under $10USD, which is good for a year. The site itself will need to be hosted, and basic packages will run you about $20/month.

One of my business partners actually runs a web hosting company, so PM me if you need anything hosted. I also get all my web developing done by a group of contractors whom I know, so let me know if you need anything done in that regard.

Good luck!

A.

 

I would start with writeing your business plan.......then go on from there....... theres lots of kits that will help you write a business plan.....as for everything else its all mentioned in the kit

 

If you plan on selling, you will also need a PST number. I got my business name a while back, I remember phoning in and then having to fax three name choices. If there is a kit available, then that sounds like a good idea.

Like the others said, you will also need a GST number.

As for incorporation, you don't need to do it. It's basically to protect yourself against being sued. If you are inc. your'e personal property is protected. My accountant advised against it, since in your first 5 years of business you can show losses without being audited (generally) he told me that I can write things off easier as a proprietership company vs being incorporated. You can also save some legal and incorporation fees until your company grows and until you would actually need it (if your company succeeds)

I don't have a business degree or anything, but maybe Aly or somebody can rephrase some of my comments to make more sense.

Good Luck with your business, it's a tough go out there.

 

What you said makes sense (pun intended ) to me Ryan.

 

When I win the lotto, my shop is going to be called "InStock Performance", anything you need i'll have it in stock.

InStock Performance is CR of the A.S corp all rights reserved.

 

I have had my own business and employess for ten years now. I have my Business degree and Masters in Economics, but those mean jack squat.

Things to consider (I may be rusty becuz its been ten years, but I've been through enough audits, etc... to learn some lessons):

regsitering provincial versus federal if you want to incorporate - the former lets you only operate in BC (though you can still sell to outside the province). See www.smallbusinessbc.ca and www.fin.gov.bc.ca/registries.

if you are doing less than $30K a year in sales, you likely don't have to worry about GST registry.

if you are not selling a specific tangible good, you don't need PST - most services are exempt, unless they are tied to a physical asset (PST is very confusing).

If you incorporate, it is prudent to do so through a lawyer - set up costs are usually around $400 with filing fees of $35 annually.

For my business, I have to be incorporated - when you deal with govts, they will NOT take you seriously unless you are a limited company.

I've never had any problems with write offs and carrying over losses from early years (up to 5) as a ltd company. Matter of fact, we find it easier to do and less likely that you will be audited federally for income tax because you can clearly seperate your personal expenses from your business expenses.

All our accounting is handled by a CGA. Stay with nothing less if you plan to be big. When you get audited, and you will (guarantee this), you want a serious accountant on your side.

Thats off the top of my head anyways.

 

Pimpin Payam is not a good idea, unless you want to go bankrupt.

 

yeah what he said!!!

Wow, you described everything to a T from what I remember. I should have know all of this but, hey who remembers everything from a school. Can you believe I'm an account (finishing off my CGA) and I still hire someone to do by accounting for me? The reasons are simple, 1. No time 2. Accountants who specialize in this know more than what school can teach you.

 

I agree with what ChriSS said, I'm also incorporated and had to go through all the hoops.

If your going to be buying and reselling then i suggest you get your GST number - there are some tax benefits associated with it - in that you can write off GST paid from GST earned dollar for dollar, if not GST paid is an expense against income.

From my experience sole proprieterships get audited more often cause there is no distance between your personal and business tax returns.

I'm slightly ahead as a limited company but that's offset by much higher costs of tax prep.

The main benefits are limited liability and the choice of tax years, my corp year runs july-june so I can do a bit of income averaging.

I do a lot of work for Gov't so as mentioned one has to be incorporated to be taken seriously.

Chris what do you do?

 

Just got my stupid pos crap pile computer back online !! WOOT !!

Great advice , thanks guys .

Hes a pimp

 

I knew that just wondering what else he does