How to Open a Business

Depending on the type of business you are looking at you might have a lot to consider before you will be ready.

Local considerations

Have you taken a look at the Building and Planning Department Start a Business page? It provides information how permitted property uses, required building permits could affect your potential business, and what uses may already be in place to get you going.

Where do you start to begin

• to assess if you're actually ready,
• what type of business you want (sole proprietorship, incorporated or partnership),
• how to hire any needed employees, what training and regulations must be met, or
• how to begin an industry specific business such as a restaurant? 

Another consideration is your operating seasonally or throughout the year. In our rural setting of Trent Lakes we have always had a strong cottage industry. This means that our community population drops significantly late fall and winter. Your client base could shift with the season and you may have to be prepared to shift with it.  

Ready to get serious

The Canada Business Network offers a free Starting a Business webpage you can access online anytime. They provide a number of resources and industry specific How-to guides. It is a great place to get started to begin to determine your readiness, willingness and entry to developing your own business. We provided a few links below to get you started: 

The steps to consider before operating a business in Canada:

1. Planning a business 
   Assessing your readiness, choosing a business structure, market research and writing a business plan.
2. Choosing a business name 
   Selecting a good name, checking if a name is taken, registering and protecting your business name.
   
3. Registering your business with the government
   Registering or incorporating your business, plus how to apply for a business number or tax account.
4. Getting business support and financing
   Should you finance your new business with private sector or Government financing?  This page offers information on both types as well as enumerating all of the future funding options. 

For most businesses, choosing an appropriate location is critical, and the address is often needed for registrations, licences and permits. 

What space does your business need?

Your ideal location will depend on your business needs, zoning restrictions and where your customers and competitors are. Infrastructure and utilities, including internet access, waste disposal, noise and other by-laws are also important factors to consider depending upon your business.

If you are a retailer, you will want to make sure you have ample parking and pedestrian parking as well as attractive decor or landscaping. If you are a small wholesale or manufacturing operation you may be required to comply with zoning regulations as to what types of activities are allowed. You may also want to consider employee parking or an easy shipping delivery/pickup area, or loading dock. For personal, professional or creative services or products you may require an office or workshop or other additional space. This could require a building permit. 

If you are considering setting up your business in your home, make sure you know what regulations and restrictions will apply to your home-based business before you start. 

Contact Building and Planning

Be sure to contact our Building and Planning Department about the property where you will be operating your business from. Even minor changes could require municipal approval and these take time. Our staff is more than happy to answer your questions and provide advice and alternative options to assist you in your endeavor. 

If you are looking for a property to suit your business needs check our Available Properties page for either commercial, or residential properties currently for sale. 

A business plan is the blueprint for your business. Writing a business plan is the best way to test whether an idea for starting a business is feasible. If working through a business plan reveals that your business idea is untenable, it will save you a great deal of time and money.

The process of writing a business plan will ultimately make for a smoother startup period and fewer unforeseen problems as your business gets up and running. A business plan will also create a financial picture of the business, its start-up costs and projected revenues which is often required when applying for funding or grants

Here are some resources to help you write a business plan:

• Futurepreneaur interactive Business Plan Writer
• Government of Canada Business Plan Guide

Operating a business in Trent Lakes does not currently require a municipal business license. However, where you plan on operating your business may have some requirements pertaining to zoning or building purposes. Please refer to the Building and Planning Start a Business page for information on what your business may require from a municipal level.

Simplifying business for entrepreneurs

BizPaL is an online service that walks you through finding comprehensive information about the permits and licences you need from all levels of government - local, provincial and federal.

Easy and convenient, BizPaL will help you generate a customized list of the permits and licences your business needs. Whether you want to start or grow your business - or are already operating and want to verify that you have all the correct permits and licences - BizPaL can help.

Key Benefits

• It's free to use.
• Save time and money - Because most of the information you need is available from a single source, you spend less time searching and more time building your business.
• Improve business planning - With BizPaL, you know which permits and licenses are needed for your business, enabling you to comply with them and get it right the first time.
• Get answers when you need them - As an online service, BizPaL is available day or night to help you navigate government requirements. What's more, all answers are tailored to your business situation.

This service is the result of strong collaboration between the Government of Canada and participating provincial/territorial, and local governments.

Launch BizPaL

The Business Advisory Centre (BAC) offers two training programs to support Peterborough & the Kawarthas entrepreneurs. The Government of Ontario funds both programs to connect business owners with training, mentorship, and funding to start and grow a business. You can become a client of the Business Advisory Centre in 3 easy steps.

Step 1

Take the New Venture Session Online Course or attend a workshop. You can also download the Small Business Toolkit if you have not already done so. 

Step 2

Check out the Business Advisory Centre Business Fundamentals E-Learning Courses and Workshops. 

• Business planning
• Branding and marketing for small business

Step 3

Book a one-on-one consultation with the Business Advisory Centre

Bonus!

Apply for an Entrepreneurship Program

• Starter Company Plus
• Summer Company

For more information about the Peterborough & the Kawartha Economic Development’s Business Advisory Centre, contact Madeleine Hurrell at mhurrell@peterboroughed.ca or visit peterboroughed.ca/business-support/