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1
Fill out our website form step by step and place order with Credit Card, PayPal or e-transfer.
2
Let our registry agent clear the payment, review your order and file with the Governmental unit.
3
Check your inbox and receive the final documents. You are all set.
Sole Proprietorship in Ontario
The previous name of this product was Ontario Master Business Licence (MBL). It is also known as businessname registration in Ontario. A sole proprietorship in Ontraio must be owned by a single person and not a corporation. When this type of business entity is owned by a corporation, in Ontraio, it’s called Trade Name Registration.
Sole Proprietorship in Other Province
In most provinces, this is also known as business name registration. In Alberta, a sole proprietorship and a trade name registration is done in the same form and hence, sometimes a sole proprietorship is called trade name registration in Alberta. To register a sole proprietorship, you must have a address in the designated province.
What are the advantages of a sole proprietorship:
- They’re easy and inexpensive to set up
- You’ll have direct control of decision-making
- Minimal working capital usually required
- There are some tax advantages, such as expenses and losses offsetting your income
- All profits go to you, the business owner
What are the disadvantages of a sole proprietorship:
- No corporation to assume liability risk so any claims may have to be paid from your personal assets
- As the business owner, you’re responsible for all debts
- Inability to sell equity in the business makes it difficult to raise capital
- Harder to sell or transfer your business to others when it’s solely dependent on your involvement
New Registration and Renewal
A Sole Proprietorship is an unincorporated business that is owned by one individual. It is the simplest kind of business structure. The owner of a sole proprietorship has sole responsibility for making decisions, receives all the profits, claims all losses, and does not have separate legal status from the business.
If you are a sole proprietor, you also assume all the risks of the business. The risks extend even to your personal property and assets.
Ready to start a sole proprietorship in Ontario?
Our expert team simplifies the new registration and renewal process, ensuring compliance with provincial regulations. We handle name registration, Business Number applications, and local permits for new businesses, and manage efficient renewal services to keep your business active. Trust Ontario Business for streamlined, hassle-free sole proprietorship services.
Frequently Asked Questions
Find out why OBR leads the way in our industry. Check out our FAQs to see why we’re your top choice for all your needs.
🔍 Trusted & Experienced
Ontario Business Registry is an official intermediary of Ontario and a registered member of Corporations Canada. We pride ourselves on our thorough and compliant review process, ensuring your business formation is precise and error-free.
🌟 Empowering Entrepreneurship
By opting for our company, you’re not just choosing a service—you’re embracing a hybrid approach that combines the best of both worlds. Enjoy the flexibility and control of a ‘do it yourself’ strategy, while also benefiting from the expertise and peace of mind that comes with professional assistance. It’s the perfect balance for the modern entrepreneur—affordable, comprehensive, and human-centered.
👥 Personalized Attention
Every client at Ontario Business Registry receives personalized attention. Our specialists treat your business with utmost care and professionalism, available to provide support via phone, live chat, or email. At the end of the day, your success is our business.
⚡ Super Express Service
Experience our super express incorporation services designed for fast processing. Our specialists work diligently to complete your filing within 2 business hours of order placement, delivering your incorporation documents in record time.
💲 Affordable Pricing
Understanding the financial challenges of new entrepreneurs, Ontario Business Registry offers an affordable pricing structure. We believe that cost should not be a barrier to your business aspirations, providing a cost-effective solution for your incorporation needs.
Before October 18, 2021, any unincorporated business registrations in Ontario, including Sole Proprietorships, Partnerships, and Trade Names, were issued a document known as a Master Business License. However, as of October 18, 2021, the Master Business License was phased out and replaced with a new set of documents:
- Business Name Registration For a Sole Proprietorship
- Business Name Registration For a Corporation
- Firm Name Registration For a General Partnership
- Declaration of an Ontario Limited Partnership
- Firm Name Registration for an Ontario Limited Liability Partnership
The federal corporate registry, Corporations Canada, doesn’t permit the federal registration of unincorporated businesses. Such businesses, including sole proprietorships, can only be registered at the provincial or territorial level.
A Sole Proprietorship and an Operating Name are fundamentally similar, with the distinction lying in the nature of the owner. While a Sole Proprietorship is owned by an individual, an Operating Name is owned by a legal entity such as a Corporation or Not-For-Profit organization.
We can have your sole proprietorship registered in just 2 BUSINESS HOURS!
- Business Number: Once you’re registered, a business number from the CRA is created for your business. We can help you get this number through our service, which is available in all registration packages. It’s important to note that for sole proprietorships, the business number is linked to the individual, not the business registration. So, if you’ve registered a sole proprietorship before, you’ll have the same business number.
- CRA Program Accounts: The Canada Revenue Agency (CRA) has several program accounts that businesses may need to register for, depending on their specific operations. Here are the 4 major CRA program accounts related to unincorporated businesses:
- Goods and Services Tax/Harmonized Sales Tax (RT): This account is needed if your business collects GST/HST.
- Payroll Deductions (RP): If your business pays employees, you’ll need to register for this account.
- Import-Export (RM): If your business imports goods or services abroad, you’ll need this account.
- Import-Export (RX): If your business sells goods or services abroad, you’ll need this account.
- Additional Permits & Licences: After incorporating your business, you may need to obtain additional permits and licenses based on the nature of your operations. These are typically obtained through your local city hall or municipal office.
In Ontario, it’s mandatory for unincorporated businesses to renew their registration every five years. If they don’t renew within two months of the five-year anniversary, they’ll need to file a new registration.
Sole Proprietorships in Ontario are only allowed to modify their primary activities, official email, registered address, and the owner’s address. If there’s a need to alter the business name or the owner’s name, they’ll have to file a new registration.