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SMALL BUSINESS MONTH - SUPPLEMENT TO THE FREE PRESS - SATURDAY, OCTOBER 19, 2024
According to Redd, owning your own space is preferable to renting because you’re in control. PHOTO BY TODD LEWYS
ISN’T A SIMPLE VENTURE STARTING A SMALL BUSINESS
B uoyed by the success stories of entrepreneurs who’ve appeared on Dragon’s Den and made bucket loads of cash after appearing on the show, you’ve finally decided to take the plunge. Full of enthusiasm, you start the process of launching your business – and quickly find it’s easier said than done to get the business going. The reason? There are countless hoops to jump through before you can even start selling your wares, or services. “There are many factors involved in starting a small business,” says Christopher Redd, who owns and operates Redd Line Jewellery, which specializes in crafting custom jewelry. “It’s not a simple process.” For starters, he says, you need to establish a business name with the province, then get it approved and protected, then register the name. Any small business must also register for PST (provincial sales tax) and get a business number. From there, you will need to go to the city to get a business licence. Again, the process is far from simple. First, there’s the consideration of zoning, as zoning restrictions may apply depending on the type of business activity you’re going to undertake. That being the case, it’s important to contact the city’s Zoning Branch (Planning, Property & Development Department) before applying for a license, as you need to ask about specific land use. Thinking about working from home? While a business licence isn’t required if you choose to work from home, there’s still the matter of zoning requirements. BY TODD LEWYS So, you’ve always dreamed of starting your own business.
Again, the Zoning Branch (Property, Planning & Development Department) must be consulted. “Once you find a location, you need to find out about zoning,” notes Redd. “You have to see if it’s been zoned for business, residential or commercial purposes. In my case, I turned a small home into a boutique shop. I had to do work on it for clients to be able to enter the establishment properly, among other things.” If you rent a commercial space, you’re responsible for bringing it up to standards. That can mean installing a washroom, HVAC system and proper access doors, depending on the type of business you’re starting. Then, there’s the licence application itself. Proof of insurance, photos, written property owner consent and a criminal record review could be required depending on the type of business you’re starting. Applicants may also be prompted to provide proper identification and will also need to select a business activity from the city’s Business Licence Index to ascertain the requirements of a specific business licence. And should you get your licence and establish your business, there’s the matter of licence renewal, which can be done online. “You’ll also need to secure your business name, which helps secure your licence,” he says. “If you can afford your own business to run your business from, do it. It’s the best way to go. You don’t have a landlord, and you do the improvements. Oh, and you’ll need liability insurance too.” Redd adds that while starting a small business is challenging, it’s also rewarding. “If you’re in it to get rich, think again, because that might not happen. But if you’re in it to provide a good product that makes a difference to people and you do everything properly, you will enjoy doing what you do and won’t have to look back.”
JEWELRY PHOTOS COURTESY OF REDD LINE JEWELLERY
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