Starting a Business in Nanaimo: Registration, Licenses, and Taxes — A Step-by-Step Guide

Many people relocate to Nanaimo with the intention of starting a business. Here is the practical guide to launching a business in BC and Nanaimo specifically.

## Step 1: Choose Your Business Structure

Sole proprietorship: Simplest, no registration needed, but you are personally liable. Good for consulting and service businesses.

Partnership: If multiple owners, draft a partnership agreement and register. More complex, similar liability.

Corporation: Most formal, requires BC incorporation or federal incorporation. More expensive upfront ($200-$500), but liability protection is worth it for most service businesses.

Most Nanaimo service businesses I see are sole proprietorships or single-owner corporations.

## Step 2: Register Your Business Name

If operating under a name other than your legal name, register it with the BC government online. Cost: $32 for three years. Search existing registrations first to avoid conflicts.

If you incorporate, registration is included.

## Step 3: Get a Business Number (BN)

Apply to Canada Revenue Agency for a BN. Free, takes 10-15 minutes online. You need this for:

- Hiring employees - GST registration (if eligible) - Business tax filing - Opening a business bank account

## Step 4: GST/HST Registration

BC uses the 5% GST + 7% PST system (not HST like Ontario/Atlantic). If your revenue will exceed $30,000/year, register for GST. Below that, it is optional but often makes sense if you have business expenses.

## Step 5: Licenses & Permits (Nanaimo-Specific)

If you are operating out of a home office: no license needed.

If you have a physical location in Nanaimo (retail, office, cafe): contact the City of Nanaimo for business license ($100-$300 depending on type). Some professions also need provincial licenses (healthcare, accounting, etc.).

Check with the specific City of Nanaimo department based on your business type. They are responsive and helpful.

## Step 6: Tax Planning

Hire an accountant now, not later. Cost: $1,500-$3,000/year for a small business. Worth every penny for bookkeeping, tax optimization, and HST management. Nanaimo has good local accountants.

Key tax deductions: home office (if applicable), equipment, professional fees, marketing, vehicle expenses (if business use).

## Step 7: Insurance

If you are a service provider, get general liability insurance ($300-$600/year). If you employ people, you need Workers Comp (mandatory in BC).

## Timeline & Cost

Full setup: 2-3 weeks if using an accountant, 4-6 weeks if doing it solo. Total cost: $500-$1,500 depending on incorporation and professional help.

## The Nanaimo Advantage

Nanaimo's regulatory environment is genuinely friendly to small business. City staff are responsive, licensing is straightforward, and there is no political hostility toward entrepreneurship like some larger cities. The cost of living reduction you get from moving here extends to business setup too.

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