Most businesses need to register with the provinces where they plan to do business.
A sole proprietorship, also known as Master Business Licence or MBL is registered with Service Ontario and is owned by one owner. It is the simplest form of business registration to start a business.
After the registration process you will receive a Master business license registration document issues by Service Ontario which will be sufficient to acquire City/Municipality permits & licenses, setup a bank account and to operate the business.
A sole proprietorship can generally conduct most types of businesses as well as the actions necessary to conduct the business, like entering into contracts and setting up a bank account to receive cheques and other types of payments & transactions necessary for running a business.
It is the right choice if you are a single owner business.
- Business name registration
- Trade name registration