The Century-Old Question: Can I simply incorporate myself? The DIY method as they call it.

Short answer: Yes, but that’s only the first step.

Long answer:

Here is the breakdown of the mandatory steps required when incorporating your business:

1. Formally register your business

   1.5   Create legal, minute book and share issuance documentation

2. Setup program accounts as needed, including HST, payroll, and/or import/export

3. Setup your bank account

4. Setup your books for accounting purposes

5. Apply for any licenses required to operate (i.e. WSIB)

6. Comply with ongoing reporting requirements (i.e. annual filing, tax return, HST return, payroll remittances, etc.)

For Step 1, Corporations Canada is the governmental site where you incorporate businesses federally. It’s a fairly easy to use website guiding users step-by-step as they incorporate their business themselves.

You can visit it here: Corporations Canada - Online Filing Centre

In the spirit of transparency, you can do the first step yourself. Many business owners choose to spend a day going through YouTube videos, articles and Reddit to conjure up the confidence to incorporate themselves for $200.

Why Blinc then?

However, after speaking to many business owners who attempted to do it themselves but ended up coming to Blinc, they concluded:

• Blinc has an easier interface to incorporate with tooltips along the way to help users understand concepts better
• Blinc has a professional on the other side reviewing all the information provided to ensure it’s accurate and complete before formally incorporating
• Blinc’s pricing makes it worth it to just go through them, even at the Starter package level for $249 per year Corporations Canada is a governmental website, the jargon is quite intimidating at times

In addition to incorporating your business, Blinc’s Starter compliance package offers:

• Mandatory annual filing, which we do for you
• Minute book management and unlimited resolutions creation, easily create, sign and keep track of all your records
• ISC registry, mandatory as at January 24, 2024 and now easily accessible and amended on our dashboard
• Company data repository, for whenever banks, shareholders or financiers need it
• Secure document storage and dashboard, for all those pesky legal documents and easy to update with a click of a button

More importantly, it’s what comes after that formal incorporation where 79% of business owners don’t feel like they have the right support (Source)

That’s where we come in! We created Blinc to provide total corporation compliance from formation to management to accounting, to give you the support you need to focus on your business.

If you’d like us to help you with incorporating your business, feel free to register today!