Do You Have To Register A Business Name As A Freelancer

If you are a freelancer, no affair what blazon of work yous do, you should consider registering your business organisation. Information technology can provide benefits, from helping y'all take full advantage of taxation credits to looking more professional for your clients.

It is also fast and simple to do, equally long as you do it the right manner.

So, let'southward take a look at what is involved, the pro and cons, and how to brand it as easy equally possible.

How to annals your concern

Choose a blazon of business organisation

When registering your business, you can decide to create a sole proprietorship or a corporation. A sole proprietorship is the official name for a business owned past a single person. It is typically a good choice for freelancers as it keeps things simple.

On the other hand, creating a corporation involves making the business its own divide legal entity. It is a more complex procedure just also offers its own benefits. Here are some things to consider:

Sole proprietorship benefits

Uncomplicated to annals.
Low startup costs.
You maintain complete control.

Sole proprietorship drawbacks

All liability continues to be on y'all.
Can be harder to get investments and loans (some investors and fiscal institutions will require your business organization to be incorporated).
Your business income continues to be taxed every bit personal income (it can crash-land you to a college rate if the business organization earns enough money).

Incorporation benefits

Access to more tax breaks.
The company becomes its own legal entity, so you lot take less liability

Incorporation drawbacks

Stricter regulations.
A lot more paperwork.
You may lose some control of the business (y'all accept to bargain with directors and shareholders).

Pick a name

You will need to choose a name for your business concern. If you are having problem coming upwardly with ideas, you can e'er stick with your beginning and concluding proper name equally your business name. Simply whatever you choose, yous should try to make sure your business name is unique.

Make certain the name isn't taken

To find out if in that location are already businesses in Canada with the same name, y'all can employ the NUANS database. NUANS stands for New Upgraded Automated Name Search, and information technology is the official database of incorporated and trademarked companies in Canada. The fees vary by province from $25 to $lxxx CAD, and in exchange, yous go a written report on all the similar names that are already taken.

Proper name protection

Information technology is worth noting that merely registering your business will not give yous name protection. That is because it prevents other businesses from registering with the aforementioned name in your province, but non in the balance of the country. For that, you would need to trademark your business organisation proper name.

Register your business

To register your business organization, you will need to have a name, address, electronic mail, and description of the business. Depending on what type of business organisation information technology is, you may as well need to utilise for licenses (such as health permits and operational licenses). It is suggested to read the authorities-approved website www.bizpal.ca to see which permits y'all need. Once you have all of those requirements covered, you are good to go.

Renew your registration

Yous may exist required to renew your business registration periodically, depending on which province your business organization is registered in. For example, in British Columbia, the registration will never elapse, while in Ontario you are required to renew your registration every five years.

Ensure yous look up the rules for your province or territory, and don't forget to mark your agenda (because typically, yous volition not get a reminder from the government that it is time to renew).

In addition, no matter what province y'all are registered in, yous will demand to re-register if you want to change your business's name or switch ownerships.

The 3 benefits of registering

Here are but a few of the reasons it is a expert idea to annals your business:

1. The ability to choose a proper noun

If you want your business to accept a proper name that is not your starting time and last name, you are legally required to annals your business, or face fines.

2. Professionalism

Registering a business organization can help freelancers announced more professional and give confidence to their prospective clients. For example, in that location may be times when you are entering into a contract, and the customer volition desire some standard details about your business. If y'all have to answer that yous are not registered as a concern, you could be viewed as an apprentice.

iii. Simplicity and control

When compared to other forms of business, starting a sole proprietorship is simpler and gives you complete control over your business organisation.

Save time and money by registering with Ownr

Ownr makes information technology easy for entrepreneurs to launch their businesses in Canada. The Ownr Web log is constantly updated with resources, data, and insider data from successful entrepreneurs to make sure new business concern owners have what they need to become started.

Business organisation registration made simple

Ownr can help you register a business in a quick and simple mode, for a fraction of what it would unremarkably toll, without the need to rent a lawyer.

With Ownr you can skip the NUANS name search fees, considering you go up to 30 unique name searches for free. Plus when you utilize Ownr to search for business organisation names you lot can search in existent-time, different NUANS reports, which tin take up to 5 concern days.

Sectional Communo discount

As a special offer, Communo users tin currently get $threescore off the cost of registering your business organization with Ownr. And then what are you lot waiting for? Annals your business organization today.