For registering a small business in New Brunswick, you can visit the official guide here.
What is a Small Business?
A small business is a business that does not have more than 100 employees.
What Does New Brunswick’s Registration Provision For Small Businesses Do?
The Registrations Act, 2007 (Act), as amended, provides for registration of small businesses in New Brunswick.
Who Can Register A Small Business In New Brunswick?
Any person who is at least 18 years of age, who operates a business or engages in any activity that is small in scale, and who is not prohibited from doing so by law, can register a New Brunswick small business under the Registrations Act.
There are certain restrictions on registration, however:
- individuals must be either residents of New Brunswick or a Canadian citizen (i.e., someone who is not a permanent resident) to register
- businesses must have been operating for at least one year to register
- businesses must employ at least two employees but no more than 100 persons.
Is A Small Business Limited?
A limited liability partnership (LLP) is not considered a small business for purposes of the Registrations Act.
What Are The Bonuses And Discounts That Are Offered Under The Registrations Act?
Registration of a small business under the Registrations Act entitles the business to registration fees (payable at $300 each), discounts off the number of new employees and off other costs, and access to loans from NB Finance.
In addition, businesses have access to a number of measures that are not offered to other businesses:
- New Brunswick Small Business Development Corporations (SBDCs) can provide funding and financial advice.
- Small Business Investment Corporations (SBICs) can provide funding, mentoring and financial advice to businesses.
How Do I Register A Small Business In New Brunswick?
Once a business qualifies for registration, it must complete an application form and pay the fee.
If a business qualifies, it will be registered within 60 days of submission.
The application process consists of two steps: filling out the required forms and completing the required attachments.
The Registrations Act establishes the procedures for registration of small businesses in New Brunswick, including expedited processing and fees (see section 5).
Other Helpful Guides:
- Is Moncton a Good Place to Invest?
- How to Find an Accountant in New Brunswick
- What is the Tax Rate in New Brunswick?
