Running a business in Canada involves navigating various administrative tasks, from registering as a sole proprietorship to full incorporation. The paperwork can be overwhelming, and government websites aren’t always the most user-friendly. In my experience, I even had to resort to a lawyer’s assistance due to the complexity of the process. However, there’s a more accessible and cost-effective solution in Ownr.
Founded in 2017 and headquartered in Toronto, Ownr is part of RBC Ventures, a subsidiary of the Royal Bank of Canada. Ownr specializes in simplifying the business registration and incorporation process for entrepreneurs. It’s currently available in Ontario, Alberta, British Columbia, and Quebec.
Ownr streamlines the business registration process, allowing you to choose between a sole proprietorship or corporation. Whether you’re starting a new venture or managing an existing corporation, Ownr simplifies the bureaucratic side of running a business.
For a sole proprietorship, after creating an account, you can search for available business names. Once you’ve reserved a name, fill out your business details online and pay the registration fee. Ownr will process your application, and in Ontario and Alberta, you can receive your business license via email within one business day. In British Columbia, the business name reservation takes up to 15 business days.
Incorporating a business is made easy with Ownr. Search for available business names, complete your business details, and submit your registration. Ownr handles your incorporation application, providing you with essential corporate formation documents. This saves you the hassle and cost of hiring a lawyer. You’ll also receive your business number from the Canada Revenue Agency.
Ownr offers various plans for business incorporation, with services like name registration, document preparation, and online minute book management.
The fees for business registration and management vary depending on your location. They include government filing fees, and there are discounts available for specific situations. For example, when incorporating a new business and signing up for the managed corporation service, you can save on the incorporation fee.
When you register your business with Ownr and open an RBC business bank account within 60 days, you can receive cashback based on your business type and location. This means substantial savings and even a 100% fee rebate for sole proprietorships.
After registering your business, Ownr provides additional benefits, such as discounts for branding tools and access to small business savings from leading brands, including Telus, Staples, Xero, Etsy, Jobber, and more.
Ownr offers an affiliate program where you can earn money when people sign up through your referral link and use Ownr to register their businesses. Your referrals also get a 15% discount.
In Canada, businesses can take various legal structures, including sole proprietorships, corporations, partnerships, and cooperatives. Each structure has its own advantages and disadvantages. For instance, sole proprietorships are simple to set up but carry unlimited liability, while corporations provide limited liability but involve more paperwork and annual filings.
Whether you’re opting for a sole proprietorship or full incorporation, Ownr can significantly ease the process and help you save money compared to hiring a lawyer. With Ownr, you can potentially save hundreds of dollars when incorporating a business, and opening an RBC business account can help you recover most or all of the fees you paid. It’s a valuable resource for Canadian entrepreneurs looking to streamline their business registration.
