While most businesses have completed their Ontario business registration there are some instances when the company does not necessarily need to be registered. This typically only applies to a business that is so small and has so few liabilities that it rests on a single person. However, if the business were to change slightly then it might require Ontario business registration. Here are a few instances when you will need to take your business and complete the Ontario business registration to get your company registered.
In a sole proprietorship is operating and the owner decides that his business is simply their name, then nothing more is needed. They can simply operate the business under their own name and they will not need to register it as anything else. However, were they to decide to add a name to their business then they will need to register it. With Ontario business registration a company will need to register a name to have that name, and therefore must register itself as a business.
If your business were to grow a little it would also need to register. If the business were to grow larger than the sole owner’s income with the addition of employees or liabilities than it would need to be registered. As soon as a business grows larger than the single proprietor it most likely will need to register as a business.
There are very few instances when a business can operate without being registered as a business. There are steep fines for operating as a business without having the proper Ontario business registration completed, and as such businesses owners usually choose to be safe over being sorry. Register your business today because of the advantages of being a registered business as well as avoiding potential legal trouble.
