Business Start-Up Assistance

Business Type
Business Plan
Funding
Business Registrations

Insurance
Employment
Employer's Toolkits
Other Business Start-Up Resources

Venture Kamloops provides free 1-hour business consultations for individuals or groups planning on starting up a business in Kamloops. Please call 250-828-6818 to book an appointment.

There are numerous steps involved with starting up a business. This site will provide some important steps to assist you in turning your business idea into a reality and also provide you with links to other resources for starting up a business.

Business Type

There are 3 main business types, each have their unique advantages and disadvantages over one another so it is important to choose the type that is best suited for what you plan to do.

Sole Proprietorship

A sole proprietorship is the simplest way to set up a business because you are the only employee.

Partnership

A partnership is an agreement in which two or more people combine resources in a business with a view to making a profit.

Corporation

A corporation is a legal entity that is separate and distinct from its members (shareholders).

Click here for more information regarding business types.

Business Plan

Creating a Business Plan will help you gain an understanding of how your business will operate in the marketplace. A Business Plan accomplishes three main objectives. It prepares you for what to expect, explains your business to yourself and others, and it highlights goals that you would like to achieve with your business. A Business Plan will identify the amount of financing or outside investment needed for your business and is required by a financial institution to be eligible for any funding source.

Click here to see what steps to take when creating a Business Plan.

Funding

There are many different funding sources available for starting up a business. It is important to know how much you are able to invest into your business before going to a financial instituion in search of funding. You will also need a Business Plan which is required by financial institutions if you would like to apply for funding.

Click here for Wage Subsidy and Funded Training Programs
Click here for more information regarding funding for a small business.

Business Registrations

Register Your Business Name

Click here for more information regarding business name registration with the BC Registry.

Register with Canada Revenue Agency

Canada Revenue Agency provides information about GST, payroll and many other topics for your business. Click here for more information regarding Canada Revenue Agency.

Municipal Business Licenses

Your business must be registered with the city you are planning to operate your business in. Click here for more information on City of Kamloops Business Licenses.

Consumer Taxation

Click here for information on Provincial taxation for your business.

Workers' Compensation Board (WCB)

Register with Workers' Compensation Board and get information regarding coverage for yourself and your employees. Click here for more information about WCB.

Insurance

Obtaining insurance for your business protects you against liability in case of robbery, fire, flood, and any other type of damage. Find an insurance agent that specializes in insuring small businesses and shop around to find a rate which suits your needs.

Click here for more information regarding business insurance.

Employment

Familiarize yourself with the Employment Standards Act so that you are fully aware of the requirements for minimum wage, statutory holidays, and other employee rights when you start hiring people to work for you.

Other Business Start-Up Resources