Page Content How do I write a business plan?One of the most valuable items a business owner can have is a business plan. There are many different ways to write a business plan. In the Business Plan section under the resources button you will find various outlines and tools that can be used to write a professional business plan. Some of our favourites sties include: Sample Business Plans - www.bplans.com/samples/sba.cfm The Brampton Entrepreneur Centre also covers the basics of business plan preparation in our 1.5 hour How to Start a Small Business seminar. All the essential components that go in a professional business plan are covered in a practical and easy-to-follow framework. Check out our Calendar Events for upcoming sessions.Can you recommend a Lawyer, Accountant, Banker or other Small Business Professional? We no longer provide any referrals or recommend any one business professional over another for any of these services. You can access a list of available professionals in these industries located in Brampton by accessing our Business Directory. You will have to do your own due diligence and find the industry professional that is right for you. How much does it cost to register a business?To register a Sole Proprietorship or General Partnership it costs $60. In addition, it is recommended that you perform a name search. The cost for this is $8 per search. Renewals are also $60. Changes to address and phone number are free and can be done online at www.serviceontario.ca/business Registering an incorporated company is more expensive and complicated, therefore we recommend that you speak with a legal professional about this process.Does the Brampton Entrepreneur Centre offer any long term programs for business start up?The Brampton Entrepreneur Centre is a resource centre for aspiring small business owners and entrepreneurs. We want you to visit us first, before taking any other start-up steps. We offer a wide variety of seminars and workshops which will introduce you to business concepts and the journey to launching your business. What are the types legal business registrations? There are various types business structures: . Sole Proprietorship Provincial General Partnership Provincial Incorporation Provincial Federal Not-for Profit Incorporation Provincial Federal Co-operative Incorporation Provincial Federal More information on proprietors, partnerships and incorporating available at CanadaBusiness How do I register for HST?You are required to collect and remit HST for your business effective July 1st 2010. You can register for the HST by contacting Revenue Canada at 1.800.959.5525 or registering online at www.cra-arc.gc.ca.What other web sites can I visit for information on Small Business?Although we like to think that you have found a good web site here, some of the other sites that we often recommend are: · Economic Development Office www.investbrampton.ca · Ontario Network of Entrepreneurs (“ONE”) · Province of Ontario www.ontario.ca · Ministry of Economic Development, Job Creation and Trade www.ontario.ca/page/ministry-economic-development-job-creation-trade · Government of Canada - FedDev Ontario www.feddevontario.gc.ca · Strategies/Industry Canada - www.strategis.ic.gc.ca · Canada Revenue Agency - www.cra-arc.gc.ca · Ministry of Finance - www.fin.gov.on.ca · GD Sourcing - www.gdsourcing.com · Statistics Canada - www.statcan.gc.caWhere can I get the money I need to start my business? In specific industries you may be able to find financing for the expansion of your existing business at the following website: https://ised-isde.canada.ca/site/ised/en Sixty-five percent of small business owners require a loan from a financial institution. Each institution has its own requirements, but generally they will require the following: a written business plan satisfactory credit score some investment and/or equity from you management abilities transferable skills & industry experience For grants and other funding opportunities please visit our grants and funding page Where do I go to register my business?Business registration is a provincial function and is done either online, or at the Local ServiceOntario office. You can register your business in person at the ServiceOntario location located at 1 Gateway Boulevard, Brampton ON L6T 0G3 (payment can be made by cash, cheque, debit or credit card) Special Note: This ServiceOntario centre is located between Torbram and Airport Road, just off Queen Street East. This service is available Monday through Friday between the hours of 8:30am - 4:00pm, on a first come, first serve basis. For immediate business name searches and registrations from the comfort of your own home between 8:30am - 6:00pm visit www.serviceontario.ca/business (you must pay by credit card to use this service) Where is the Brampton Entrepreneur Centre? We are located outside of Brampton City Hall, 41 George Street South, 1st Floor (directly beside Sunset Grill). Parking is available at Brampton City Hall, West Tower Parking Garage or at the street meters. Who funds the BEC?The Brampton Entrepreneur Centre is a unit within the City of Brampton's Economic Development Office (EDO), which is why we answer the phone with "Good Day, Economic Development."The Economic Development Office is concerned with the attraction and retention of businesses within our City, and entrepreneurship is a core principal of business attraction.Funding to operate the Centre is provided through the Municipal Government, with generous support from the Province of Ontario's Ministry of Economic Development, Job Creation & Trade.City of Brampton - www.brampton.caMinistry of Economic Development, Job Creation & Trade - www.ontario.ca/economyThrough our provincial partner, the Brampton Entrepreneur Centre is part of an extensive network of Enterprise Centres across Ontario.The Brampton Entrepreneur Centre has forged a number of important strategic alliances with organizations within the local business community, including:The Brampton Board of Trade (BBoT) - www.bramptonbot.comBusiness Development Bank of Canada (BDC) - www.bdc.caThe Brampton Library - www.bramptonlibrary.caStartup Peel - www.startuppeel.caOther organizations interested in partnering with the Brampton Entrepreneur Centre are invited to contact the Centre Manager. When do I begin collecting HST?If you operate a sole proprietorship, a partnership, or a corporation that has gross sales over $30,000 in a fiscal year you are required to collect HST on behalf of the government. If your sales are less than $30,000, charging HST is optional. Things to note: When determining whether or not you need to register for the HST, you need to look at your income in consecutive quarters. Your gross revenues are based on when the money is invoiced, not when it is paid. If your income exceeds the $30,000 threshold for any four consecutive quarters, or in any quarter, you must register. Sole proprietors operating more than one business must combine the income from all businesses when determining if they need to register for the GST/HST. For example, if one business had total revenues (before expenses) of $20,000 and a second business had total revenues (before expenses) of $12,000 in four consecutive quarters, you would need to register for and charge the HST. For more information contact Revenue Canada at 1.800.959.5525 or online at www.cra-arc.gc.ca.What is the difference between t1 and t2 tax return?When you are the owner of a business, you must file a T2 corporate tax return for your incorporated business, as well as a T1 personal tax return. Your incorporated business-related income and expenses are claimed on T2; do not claim them on your T1 personal tax return.What is the Brampton Entrepreneur Centre + Co-working SpaceAt the Brampton Entrepreneur Centre (BEC), we’re dedicated to helping small business owners and entrepreneurs like you succeed in today’s ever-changing business market. Whether you’re thinking about opening a business, formulating your business plan or undergoing change in an established business BEC has the expertise to help propel your ideas forward. You’ll be pleased to learn that most of our services are free, and the rest are offered at a nominal fee. We offer FREE: Guidance on business start-up steps Guidance on permits, regulations and other start-up requirements GrowthWheel - Existing business support Leading-edge information, resources, templates and market research Workshops and seminars (free and low-cost) Individual, private consultations Business plan reviews Referral services Guidance on growth and change issues Professional development and networking opportunities Access to funding opportunities Site selection support - we help you find suitable locations for your business Co-working (free with approved application) ... and so much more!How can I use the co-working space?The City of Brampton is pleased to announce that the new co-working space at 41 George Street is now open. The spacious 4,500 sq. ft. storefront is conveniently located below City Hall’s West Tower, and is designed to fuel your creativity and productivity! The facility, operated by the Brampton Entrepreneur Centre (BEC), will initially offer co-working space as a pilot to allow clients to get a feel of the new experience at no cost. The pilot is also an opportunity for the BEC team to measure project feasibility and efficiency. Entrepreneurs interested in working from our space must complete an application and be approved to use the space. At this time the free pilot program will run until the end of December 2019. Learn more at: www.brampton.ca/incubator
