If you’re planning to start a business in New Brunswick, you’ll need to obtain a New Brunswick business license. A business license is required by law and is a way for the government to regulate businesses and ensure that they are operating legally.
In this article, we’ll provide you with a step-by-step guide on how to obtain a business license in New Brunswick, as well as information on the costs associated with it.
Before we dive into the details of obtaining a business license, let’s first provide you with an overview of what it is and why it’s important:
What is a New Brunswick Business License?
A business license is a legal document that allows you to operate a business in a specific location. It is a permit from the government that grants you the right to conduct business in a particular area. The license ensures that your business complies with all the local laws and regulations. It also helps to protect consumers by ensuring that businesses are operating legally and ethically.
Why Do You Need a Business License in New Brunswick?
You need a business license to comply with the law and operate your business legally in New Brunswick. The license ensures that your business is following all the local laws and regulations. It also helps to protect consumers by ensuring that businesses are operating legally and ethically. Without a business license, you risk facing fines, penalties, and legal action.
Who Needs a Business License in New Brunswick?
All businesses operating in New Brunswick need a business license. This includes home-based businesses, online businesses, and storefront businesses. The type of license you need will depend on the nature of your business and the location where you operate. For example, if you are operating a food business, you will need a food service establishment license. If you are operating a home-based business, you may need a home occupation permit.
To determine the specific license you need for your business, you should consult the Government of New Brunswick’s BizPaL website. BizPaL is an online, one-stop-shop for entrepreneurs that simplifies the process of finding information on business permits and licenses from all levels of government – federal, provincial, and municipal.
Step-by-Step Guide to Getting a New Brunswick Business License
Step 1: Determine Your Business Structure
Before you can register your NB business, you need to determine the structure of your business. You can choose from a sole proprietorship, partnership, corporation, or cooperative. Each structure has its own advantages and disadvantages, so it’s important to choose the one that best suits your business needs.
Step 2: Register Your Business Name
Once you have determined your business structure, the next step is to register your business name. You can choose a name that is unique and not already in use. You can check the availability of your business name by searching the New Brunswick Corporate Registry.
Step 3: Obtain a Business Number
After you have registered your business name, you need to obtain a business number. This number is used to identify your business for tax purposes. You can obtain a business number by registering for a GST/HST account with the Canada Revenue Agency.
Step 4: Apply for a Business License
To apply for a business license in New Brunswick, you need to fill out an application form and pay the required fee. The fee varies depending on the type of business you are operating. You can apply for a business license through the Service New Brunswick website.
Step 5: Obtain Additional Permits and Licenses
Depending on the nature of your business, you may need to obtain additional permits and licenses. For example, if you are opening a restaurant, you will need to obtain a food service license. You can find out what additional permits and licenses you need by consulting the NB Bizpal website.
Cost of a Business License in New Brunswick
The cost of a business license in NB varies depending on a number of factors:
Business License Fees
The cost of a business license in New Brunswick varies depending on the type of business and the location. The fee for a business license ranges from $25 to $200. The fee for a home-based business license is $25. The fee for a commercial business license ranges from $50 to $200 depending on the location.
It is important to note that the business license fee is an annual fee that must be renewed each year. Failure to renew the license may result in penalties or fines.
Additional Permit and License Fees
In addition to the business license fee, there may be additional permit and license fees required depending on the type of business. For example, if you are starting a restaurant, you may need to obtain a food service permit. The fee for a food service permit is $100.
Other permits and licenses that may be required include:
NB Business License Renewal and Compliance
When to Renew Your Business License
Renewing your business license is an important step in maintaining your business operations in New Brunswick. According to the Government of New Brunswick, you are required to renew your business name registration every five years. Failure to do so may result in your business name being cancelled.
To renew your business name registration, you must file a certificate of business name under the Business Corporations Act. The relevant statutory provisions and forms can be found on the Government of New Brunswick website.
In addition to renewing your business license, there are compliance requirements that you must adhere to as a business owner in New Brunswick. The Financial and Consumer Services Commission is responsible for regulating insurance licenses in the province.
All insurance agents and brokers must be sponsored by an insurer that is licensed to conduct the same type of insurance business in the province. The Financial and Consumer Services Commission maintains a database that details the license status of insurers, agents, and adjusters in New Brunswick.
Furthermore, if you are an extra-provincial corporation that carries on business in New Brunswick, you are required to become registered under the Business Corporations Act. The required articles of incorporation must be filed under the Act along with the appropriate fee payment. The Government of New Brunswick website provides more information on eligibility and the registration process.
To avoid any legal or financial penalties, it is important to comply with these requirements and renew your business license on time.
Frequently Asked Questions
How do I register a sole proprietorship in New Brunswick?
To register a sole proprietorship in New Brunswick, you need to go to the website of the New Brunswick government and follow these steps:
- Type “business” into the search bar and click on “businesses”.
- Click on “apply for a business number”, fill out the required information, and then submit your application online.
- Once you have your business number, you can register your sole proprietorship with the Corporate Affairs Branch of Service New Brunswick.
What is the cost of a business license in New Brunswick?
The cost of a business license in New Brunswick varies depending on the type of business you have and the location of your business. You can find more information on the Government of New Brunswick website.
What are the requirements for obtaining a business license in New Brunswick?
The requirements for obtaining a business license in New Brunswick depend on the type of business you have and the location of your business. You can find more information on the Government of New Brunswick website.
Are there any government grants available for small businesses in New Brunswick?
Yes! We have the largest directory of government grants for New Brunswick small businesses.
What investment opportunities are available in New Brunswick, Canada?
There are several investment opportunities available in New Brunswick, Canada. Some of the top industries in the province include information technology, manufacturing, and seafood. You can find more information on the Invest NB website.
How do I search for a business name in New Brunswick?
To search for a business name in New Brunswick, you can use the Corporate Affairs Branch of Service New Brunswick website. You can search by business name, registration number, or director name.