Don't skip these steps if you're opening a new Canadian business

If you're starting a business in Canada, these are the four key steps you'll need to take to get off on the right foot.

Before starting out, you are going to want to choose a name for your business.

Make sure you choose a name that doesn't misrepresent your company, or you will lose the marketing advantage of having a company name that customers will immediately associate with your product or service.

You will also want to consider the legal implications of your name and make sure it is not already in use.

Registering your business name is a legal requirement for virtually all Canadian businesses.

Before you get a business licence, you will need to find out if you need to register your business' name and learn the details about business name registration in your area.

The registration process differs depending on where your business is located, so check the requirements with your local municipality.

Starting a company can involve some startup costs, so make sure that you have the money to invest in your company.

It could be a little while before your company starts making a profit, so you'll want to either acquire small business funding or have enough in your account to make sure you can get your business off the ground.

Consult your city or town's website in order to find out where to register for a business licence. Some areas allow you to complete the registration process online, while others require you to appear in person.

Licences and permits will differ depending on what type of business you're starting and what industry you are involved in. There will likely be an application fee for the registration process.

Once you have applied for your business licence, you will also need to register for goods and services tax, as well as sales taxes. Once you have completed these steps, your business will be ready to open the door to customers.