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Starting a small business can feel daunting for first-time entrepreneurs—especially when you’re faced with questions you may not have even considered. What permits do I need? Licenses? How do taxes work? When should I register for an HST number? What kind of business structure should I choose? What does a business structure even mean? In this episode of TVO’s Knowledge Gap, Ariana boils it all down to help put you on the path to starting a small business in Canada. 0:00 Introduction - Starting a Small Business in Canada 0:08 Building a Lemonade Stand 0:13 Planning: Market, Costs, and Sourcing 0:24 Reality Check: Permits and Paperwork 0:32 BizPal.ca – Your Permit Finder 0:50 Registering Your Business Name 1:00 City of Toronto Requirements 1:13 Choosing a Business Structure 1:23 Sole Proprietorship 1:44 Incorporation 1:54 GST/HST Threshold and Tax Setup 2:11 Tax Implications and Getting Help 2:20 Final Overview 2:26 Conclusion 2:37 Just Lemons About Knowledge Gap There are so many things you learn in school. How to do algebra, how to spell ‘rollercoaster’, why mitochondria is the powerhouse of the cell. That’s all well and good, but school doesn’t teach you everything. Sometimes there are things you wish you were taught but weren’t (“adulting” topics) because you can’t possibly learn everything you’ll need in life before graduation. And maybe there are things you were taught but didn’t listen to. (I mean, who really cared about percentages until they had to calculate tip at a restaurant?)? That’s where we come in!? “Knowledge Gap” aims to fill in the stuff you didn’t learn - or didn’t want to learn - in school by giving viewers crash courses on topics to help them navigate and understand the grown-up world they now live in. #smallbusiness #Canada #KnowledgeGap