The Ontario Small Business Guide:
A Detailed and Extensive Reference for Running Your Business in Ontario
Welcome to the comprehensive guide for starting and growing a business in the province of Ontario. This all-inclusive resource will help you with all the essential tools and techniques of starting, running, and growing a business in the region. The goal of the CanadianSME Small Business Hub is to provide you with all the useful resources and information at every phase of your business’s development and lifecycle. The Ontario Small Business Guide has been carefully compiled to address all of the concerns that Ontario-based businesses can potentially face.
Ontario is one of Canada’s top most provinces that has been blessed with the most vibrant and diverse populace. It is also popular for its booming ecosystem of entrepreneurship and favourable environment for commercial activities. No wonder it is the centre of Canada’s economic trajectory and an ideal location for new ventures. This is due to Ontario’s attractive combination of resources, market accessibility, and government assistance.
Ontario is a hub of economic activities characterized by its abundant natural resources like freshwater lakes, forests, mineral ores and mining, and tourism. It is driven by key sectors, including retail trade, technology, manufacturing, finance, life sciences, and clean energy, which offer ample business opportunities. The province ranks as the 8th largest in North America and boasts one of Canada’s most successful economic growth.
Ontario is positioned centrally in Canada and serves as a transition gateway for accessibility to Canadian and international markets, with over 144 million consumers within a day’s drive. With vast market access and world-class infrastructure, Ontario has undoubtedly secured the top tier of Canadian economic development zones. The transport infrastructure includes major highways, rail networks, and airports, making the province a strategic location for businesses looking to expand.
With over 44% of adults having a tertiary-level education, Ontario is home to a highly skilled and educated workforce. This highly diverse talent pool is fuelled by the province’s top-notch educational institutions and immigration policies that attract international expertise, making it an ideal location for businesses needing high-calibre personnel.
Ontario is the country’s economically amplified province; its governance plays a vital role in pushing this region to grow. The government of Ontario is committed to sustaining an environment conducive to business activities for businesses of all sizes. They encourage small businesses and the inception of startups via a number of programs, like generous tax incentives, grants, and funding programs. Ontario government also offers a simplified business starting process, online resources and dedicated support for new business owners.
Home to a thriving tech hub boasting the second-largest IT cluster in North America, Ontario has been the frontliner of innovation and a strong startup ecosystem. with countless accelerators, incubators, and business development centres like MaRS Discovery District and Communitech providing resources and support for tech entrepreneurs; this province will surely lead the Canadian economy to new heights in the coming years. This very aspect makes this region the most favourable for businesses of all sizes.
As already mentioned above, due to this province’s high economic boom and higher income bars, Ontario enjoys an exceptionally decent quality of life. With bustling metropolitans like Toronto and Ottawa to picturesque landscapes in areas such as Muskoka and Niagara, a unique blend of urban and rural living standards appeals to the masses. Though the cost of living is relatively higher than in most provinces of Canada, the cost of running a business is mitigated by the provision of several financing resources offered by the regional government.
Explore the Best Available Resources for
SMBs and StartUps in Ontario
Ontario Chamber of Commerce
If you are hoping to launch a small-scale business in Ontario, the Ontario Chamber of Commerce (OCC) is a fantastic place to accumulate all your resources and tools before getting started. The OCC has more than 140 member chambers and trade boards that work day and night towards aiding the growth and development of all sizes of businesses in the province, including the small-scale.
The official website states, “Our mission is to convene, align, and advance the interests of our members through principled policy work, value-added business services, and broad engagement to build prosperity for all Ontarians. We are the most respected, trusted, and indispensable partner of business, driving government decision-making and leveraging assets across our province-wide membership to support their growth and a competitive business climate in Ontario.”
So, if you are wondering where to start, why not visit the official website of OCC, the link for which we have provided above!
Covid-19 tools and resources for small businesses can be found here: https://occ.ca/covid19/
Canadian Federation of Independent Business
The Canadian Federation of Independent Business is another excellent option to turn to when you feel you need some help with your small-scale business in Ontario. Dedicated to helping small firms and entrepreneurs, CFIB is the largest non-profit organization with more than 95,000 members.
The CFIB plays a vital role in advocating for small-scale businesses, whether with the government or politicians. Additionally, they provide specific business tools and practical resources plus on-call counsellors if you still have a doubt.
City of Toronto
Toronto is the capital of Ontario and the business hub of Canada. Since the March of 2020, there have been several changes in how small businesses functioned. For many, it was a pretty rough phase, and the subsequent few waves of the pandemic only made matters worse.
Trade Commissioner
Canada.ca is the Government of Canada’s digital presence. The goal of this site is to make it easier for Canadians to find and understand Government of Canada information and services.
National Aboriginal Capital Corporations Association
NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. The IFI network has provided 50,000 loans totaling $3 billion to businesses owned by First Nations, Métis, and Inuit people.
Natural Resources Canada
We recognize the unique opportunity clean fuels present for Indigenous businesses and communities and encourage Indigenous participation on all projects. We have designed a distinct process with measures to increase funding of Indigenous-led clean production capacity projects in Canada.
Pauktuutit
Pauktuutit is the national non-profit organization representing all Inuit women in Canada. Its mandate is to foster a greater awareness of the needs of Inuit women, and to encourage their participation in community, regional and national concerns in relation to social, cultural and economic development.
Business Development Bank of Canada (BDC)
At BDC, we know business owners. We’ve been working with them for more than 75 years. We know their challenges and we understand their needs. And we want them to grow and succeed.
Digital Main Street
Digital Main Street is helping to create connected cities, maintain vibrant neighborhoods, and empower main streets – providing business owners with the support and guidance they need during their digital transformation journey.
Futurpreneur Canada
Futurpreneur has been fueling the entrepreneurial passions of Canada’s young enterprise for over two decades. We are the only national, non-profit organization that provides financing, mentoring and support tools to aspiring business owners aged 18-39. Our internationally recognized mentoring program hand matches young entrepreneurs with a business expert from a network of more than 2,600 volunteer mentors.
Mentor Works
Mentor Works, the Canadian Government Funding Planners, provide assistance and support services related to small business funding grants. By assessing our clients’ strategic objectives and innovation challenges, we are able to match optimal government grants for small businesses in Ontario and across Canada in order to accelerate business growth.
Ontario Centres of Excellence (OCE)
The Ontario Centre of Innovation (OCI), formerly the Ontario Centres of Excellence (OCE), maximizes the commercial impact of research developed in Ontario’s colleges, universities, and research hospitals, and accelerates the commercialization of Made-in-Ontario technologies.
Ontario Ministry of Economic Development, Job Creation and Trade
The Ministry of Economic Development, Job Creation and Trade’s engaged and inclusive team is passionate about delivering policies, programs and services to help businesses of all sizes and in every region to start, grow, invest, trade and create jobs, and to attract investment to Ontario.
Ontario Business Central
At Ontario Business Central, we celebrate entrepreneurs. Since 1992, our focus has been to be an industry leader, providing the easiest and most transparent experience to assist you to either register or incorporate your business.