Starting a business without money in Quebec
You have everything you need to start a business: the dream, the passion, the will… but not the money. Never mind! It is possible to start a business in Quebec easily without investing capital, starting today. Here are 10 tips to get you started while preserving your wallet.
1. Choose a niche
The first thing to determine when starting a cashless business is your industry. Millions of possibilities are open to you. However, you need to figure out how to stand out from the crowd by meeting a specific consumer need.
Let’s say you want to start your account in accounting. That’s great, but you’ll have to compete with H&R Block and other big players in Canada. Difficult to achieve without major investment. Refine your offer to meet a specific need. You could offer an accounting service:
That’s what we call a niche! Now you must incorporate your business according to provincial rules.
2. Choose a good business name
According to the general rule, “the name of a business established in Quebec must be in French”. That doesn’t stop you from being creative, as you can play with both parts of the name, which are called the generic ( ABC Exports ) and the specific ( ABC Exports ).
To find out about all the criteria to be met when selecting a business name in Quebec, consult the brochure Business names published by the Office québécois de la langue française.
Before deciding on your choice, you should first check if there is a related domain name available. Many sites allow you to do this, including GoDaddy and Hosting Canada . If another company already owns the domain name you want, you can:
choose another extension provided that it corresponds well to your sector of activity;
write the name differently, adding your generic, for example rather than just Where
communicate with the owner of the desired domain name to negotiate an agreement.
3. Register for GST and QST records
In Quebec, you are required to pay taxes (GST and QST) when you have invoiced more than $30,000 in taxable goods or services during the last 12 months. You are therefore not obliged to pay these taxes when you start your business.