Spoiler Alert: It’s easier than you think! For self-employed beauty professionals or those running a side business, acquiring a business number isn’t just a formality; it’s a strategic step toward accessing opportunities and benefits.
1. Financial Opportunities Await
With a business number, you’re no longer limited in your financial pursuits. It opens the door to business loans, financial aid to expand your skill set, and various credit options, giving you the financial backbone needed to expand, invest in new tools, or even cover operational costs during slower periods.
2. Get Access to Exclusive Services
A business number is your ticket to a range of government services, grants like the bi-annual Canada-Manitoba Job Grant, and other benefits specifically designed to support businesses. This access can be instrumental in scaling your operations, expanding your service menu, or simply making your business more modern and efficient.
3. Reap the Tax Benefits
The potential for deductions and credits become much smoother with a business number. It’s not just about staying compliant; it’s about maximizing your earnings and ensuring you’re rewarded for your entrepreneurial efforts.
4. Future-Proof Your Business
Whether you dream of expanding your services or selling your successful brand in the future, a business number ensures that your business is prepared for the future, offering a seamless transition for any changes you envision. Owning a business number elevates your business’s value, making it more attractive to potential buyers due to its established credibility and easier transferability.
In 4 Easy Steps: Getting Started Is Easier Than You Think
Step 1: Create an Online Account
Your journey starts with creating an online account here. This is the foundation of establishing your business formally.
Step 2: Choose a Name for Your Business
Whether you opt for a Named Business or a Numbered Business, selecting the right name sets the tone for your brand’s identity. Information to assist you is available here.
Step 3: Reserve Your Business Name
For named businesses, a Request for Name Reservation, with a fee of less than $100, is necessary to secure your chosen name. You can easily file this request online, ensuring your unique identity in the market.
Step 4: Register Your Business
Finally, file your Business Name Registration form before the name reservation expires. This can be done online or on paper, with online filings offering the fastest processing times. Whether you’re a sole proprietor or in a partnership, step-by-step instructions are available here.
Most applicants receive their business number within days of submitting their forms, thanks to the streamlined process.
A business number isn’t just a number; it’s a key to reaching your beauty business’s full potential. By following these simple steps, you’re not just starting or scaling a business—you’re building a future.
i hope to have a business of my own in the next few years.