Registering your business: what you need to know Part two of our “Starting Your Business” series
A
fter you’ve received approval for your name request (see Part 1 of our series), it’s time to register your business with the province. Depending on the structure you’ve chosen for your business, you will take one of two paths. Registering a Sole Proprietorship or Partnership Registering a Sole-Proprietorship or partnership is easily accomplished at onestopbc.ca. You’ll need the name approval number, business and partner address information as well as a credit card to pay the $40 registry fee. Once payment is made, registration is immediate and you will be able to print out all pertinent documents. Don’t want to register online? Paper registration forms can be obtained at the Chamber office at 5811 Cooney Road. Processing time is typically 5 days from the time of receipt and your statement of registration will be mailed to the address given.
Registering a Corporation Registering a corporation is a slightly more complicated process. Before a company can be formed there must be an incorporation agreement signed by each incorporator. This is required even if there is only one incorporator. Every company must also have a set of articles. The company’s articles are the rules that govern the conduct of the company and its shareholders, directors and officers. For small companies, namely those that have only one shareholder or where the officers are all family members, the standard set of Table 1 Articles prescribed in the Business Corporations Regulation is usually a suitable set of articles. If you want to customize the articles for the company, it is recommended you seek legal advice. The articles must be kept by the company as part of the company’s records. The next step in the process of incorporating company is to file an Incorporation
Application with the Corporate Registry. The Incorporation Application must be submitted electronically over the Internet by visiting Corporate Online at www.corporateonline. gov.bc.ca. The Corporate Online site includes online help information to assist you with completing and filing the online application form. When the filing is completed, the company is incorporated and you will be assigned an incorporation number at that time. At the end of the electronic filing, you will be asked to set a password for the company that will let you file other forms for the company using Corporate Online. After you have filed the Incorporation Application electronically and the company is incorporated, the Corporate Registry will send you the original Certificate of Incorporation, a certified copy of the Incorporation Application and a certified copy of the Notice of Articles within three to five working
days. These documents must be kept by the company as part of the company’s records The fee to incorporate a company by filing an Incorporation Application using Corporate Online is $350.00 and a BC OnLine service fee of $1.50 plus GST. You will need a valid credit card and you will be asked to enter the credit card information at the end of the transaction. Do I really need to register? Most likely, yes. If you choose to carry on a business under a name other than your own personal name and are engaged in business for trading, manufacturing or mining purposes, you must register with the BC Registry Services within three months of your business start date. If you require business advice about starting your business, you are urged to contact a lawyer and/or an accountant. For more information about company registration, please call the chamber office at 604-278-2822.
MemberProfile
N
ovex Delivery Solutions is a BC owned and operated company, which has been servicing the Lower Mainland’s same-day delivery needs for over 30 years. Novex is one of the largest local same-day delivery providers in the Lower Mainland with nearly 100 delivery vehicles making over 1800 deliveries per day. Our team is comprised of an experienced team of dispatchers, customer service representatives and drivers that operates a diverse fleet of vehicles. Their transformation into a sustainable leader is why they have been named winner of the 2013 Green Supply Chain Award presented by the Supply Chain & Logistics Association of Canada. Novex has earned a reputation for living and doing business with a focus on sustainability. Novex is the first local courier company in Canada to proactively take steps to reduce its impact on the environment and develop sustainable business practices. Novex recognizes that the nature of their industry contributes to the growing environmental problem. However, instead of waiting idly for mandated changes to sweep the industry, Novex has taken a proactive approach to
greener business. They have laid out a strategic plan to become a truly sustainable organization, creating a triple bottom line that includes social, economic and environmental targets and achieving the distinction of becoming the first Carbon Neutral courier service in North America. Novex voluntarily reports on social, environmental and economic impacts of their operations. However, unlike many organizations, they do not issue an annual triple bottom line report; their report is available every day. They use an innovative tool called “See-it” (SocialEnvironmental-Economic Integration Toolkit). See-it is a real time triple bottom line reporting tool that shows the progress and status of all activities. You’ve probably seen the Novex cars while out and about. They have a very distinctive design. However, it’s not just the paint job that’s special. Integrating hybrids and electric vehicles into the Novex fleet has reduced carbon emissions by 46% in just 5 years. It’s Novex’s goal to have the entire fleet hybrid or electric by the year 2015. Novex is proving that small-medium sized businesses can make a difference and influence change in how business is conducted.
PRESENTED BY
CREATE, PARTICIPATE, CELEBRATE & CAPTURE SHARE WHAT YOU LOVE ABOUT CULTURE IN BC Show what culture means to you by uploading your photos, view the gallery and vote for your favourites!
ROUND 2
Enter now through October 4th, 2013 Post your photos to www.richmondreview.com/contests/ For a full list of BC Culture Days activities in your region, go to:
bc.culturedays.ca
ENTER FOR YOUR CHANCE TO
WIN!
Samsung Galaxy Camera™ Shoots like a pro. Shares like a smartphone.
The Galaxy Camera™ shoots incredibly vivid photos and videos, and thanks to the Android Jelly Bean operating system, you can easily access all of your social networking apps and browse the web, just like a tablet. The GALAXY Camera is the only truly connected camera in the world. Straight from the camera, you can connect,, upload, share, and even post to your favourite social media. Donor: TELUS.
Retail Value: $499.99
PLUS: 4 runner-up prizes:
richmondchamber.ca
GET YOUR TICKETS TODAY STARTING AT ONLY
$50 Safeway gift cards! Supplement to the Richmond Review
BusinessReport
|
SEPTEMBER 25, 2013
21