Registering Your Business

Before registering your business you need to determine what type of business structure you are going to operate as. You have three choices: Sole Proprietorship, Partnership, Corporation. For more information on the advantages and disadvantages of these business types please click below for a link to the Canadian Banker's Association.

Setting Up Your Business - Which Structure Is For You?

When operating a business in Ontario under a name other than your personal name you must register the name with the Ministry of Consumer and Business Services (MCBS). If you operate your business under your own name, without adding anything to your name you do not need to register your business.

Example: John Smith has a tire company and want to call his business "John Smith Tires", even though John Smith is his name, he must register the business because he has added the word "Tires" to the end.. If he wanted to call his business "John Smith" then he does not need to register his business name.

A business name search can be conducted at the time of registration to see if there any businesses operating with that name currently operating in the Province. When you are a Sopel Proprietorship, Partnership or Corporate Style Name you do not own your business name. This means that many businesses could operate under the same name. It is recommended that you do not have the same name as a business within your operating area so the two businesses aren't confused. If you want an exclusive name you must incorporate your business under a Corporate Name.

Once you register your business name you will be given your Master Business License (MBL); allowing you to operate your business under the name you registered. With this MBL you can open your business bank account for your business. Now you can write and accept cheques on behalf of your business name.

For these services and more visit
The Government of Ontario's Business Gateway.