Step 1 of 12
Choose your structure and business name
Decide how the business is set up and what it is called.
- Time
- 1–2 hours
- Cost
- Free, or a fee if you order a NUANS name report
Structure
Start as a sole proprietorship. It is the cheapest and simplest option, and you can incorporate later if the business grows.
The trade-off is that you are personally liable for the business. Alberta's own guidance says a business name has no legal existence of its own, so your personal assets are on the line for business debts. Insurance (step 6) is how you manage that risk.
Name
- If you trade under just your own legal name (for example "Jane Smith"), you do not have to register a name.
- If you use any other name, for example "Jane's Gift Shop", you must register it as a trade name in the next step.
Checking the name
Alberta does not stop two businesses registering the same name, and the owner of a similar name could take legal action against you. A NUANS Business Name Report lists similar business names, corporations and trademarks. Alberta recommends one but does not require it. NUANS members charge for the report, so ask your registry agent or a NUANS member for the price.
Keep it practical
Choose a name you are comfortable seeing on a bank statement, a licence and a shipping label.