Setting up a Saskatchewan Business, part 1

Preparation

Before you get into any nitty gritty, the first step is to step back. Analyze your idea, yourself, and your market. Is this what you want to do? Will people pay you money to do it?

Next up, who is your competition? Take your time, make lists, visit their places of business. Every bit of information you glean now will repay your time tenfold. If after surveying your market, you still think your business idea is sound, rejoice. Otherwise, spend some time tinkering with the plan.

Legalities

Perhaps the least fun but most necessary step in starting your business is registering for all of the necessary permits. This list isn't exhaustive as many types of businesses have specific licence requirements (visit BizPal, an online service to help you find out what kinds of licenses you may need):

• Name Registration
  Start this early, because first you'll need to do a name search, and only if your requested name is not already used will you be able to purchase the business name. Visit Saskatchewan Justice for more info.
• GST License, from Revenue Canada
• PST vendor's license, from Saskatchewan Justice
• Business liscence from your municipality

If you are starting a corporation there are additional forms to be completed, such as your articles of incorporation.

Necessities

Once you have your business name secured, and all necessary licenses, you can start to arrange for the other necessities of running a business, such as:

• Bank account
• Merchant Account (to receive debit/credit payment)
• Phone line and email address
• Website domain name (even if you haven't begun working on the website, secure your domain name early once you know your business name)
• Business Cards
• Promotional material such as brochures, leaflets, power point presentations, etc.
• An adequate filing system
• A solid accounting system, set this up before you start making purchases and receiving payment.
• Odds and saws: letterhead, stationary, etc.