Congratulations, you’ve decided to be an entrepreneur! If sole proprietorship is the right type for your business at the moment, the next step is to identify the best option to make your business official and get you closer to your dreams.
Ownr has helped register over 80,000 businesses in Canada. We’ve made the process of registering your sole proprietorship as easy and affordable as possible. And while it’s possible to register your business directly with the government, there are advantages to using Ownr when you consider the cost, effort and additional values.
Advantages of registering a sole proprietorship with Ownr
There are two main advantages of registering your business with Ownr rather than with the government.
- Much easier — This is a big moment for you, and you want everything to go right, but you also want it quick and easy. Ownr keeps it really easy for you:
- You don’t need legal knowledge or research prior to registration.
- You can register a business in minutes with Ownr. Simply follow the step-by-step instruction and it’s that intuitive.
- More bang for your buck — With Ownr’s registration, you get unlimited free name searches (which you’ll need to pay separately if you register with the government directly), discounts and perks for other business services with Ownr partners. Plus, if you open an RBC business bank account after registering your sole proprietorship with Ownr, your registration fee will be fully refunded*. That means it could end up costing you nothing to register your business!
Now let’s take a look at the details.
Comparison of the cost and effort of registering sole proprietorship in Ontario
Value means more than just money. It also includes what is included in the price tag, as well as the time and effort you’ll be saving.
Cost and effort of registering with the government
Estimated total cost: $68-86, including:
- Registration fee ($60 for online; or $80 by mail/in-person).
- Official business name search ($8-$26 per search). A name search isn’t mandatory for a sole proprietorship, but there are still potential legal implications if your business name is the same or similar to an existing business. Total cost depends on how many searches you need to conduct)
Effort:
- Research. Navigate through a number of pages on the government’s and 3rd parties’ websites to educate yourself on business types, how to register, and legal terms.
- Pre-search for your business name. It is recommended to manually check through a third-party service or through ServiceOntario’s records of existing businesses to ensure no one else is using your business’ name.
- Complete your business registration form through the ServiceOntario site.
Cost and effort of registering with Ownr
Estimated Total Cost: $49 plus HST, including:
- Unlimited name searches
- Registration fee
- Exclusive partner perks & discounts for various business needs
- Refund on your registration fees when you open an RBC business bank account.
Effort:
- Follow step-by-step instruction in minutes to complete:
- Business name search
- Business registration
Register your sole proprietorship with Ownr
When you’re ready to step into the excitement of making your business official, Ownr will be ready to help make that happen. We make registering your sole proprietorship in Ontario quick, simple, and affordable.
This article offers general information only, is current as of the date of publication, and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.