Guide to starting your business in Quebec

To succeed in business, you need entrepreneurial skills and a good business idea, among other things. What’s more, there are certain steps you need to take to get off on the right foot. But rest assured, starting a business at Quebec is easier than you think. In this guide, you’ll find everything you need to know about starting a business at Quebec. First, the key steps in starting your business, including choosing your legal form and drawing up a business plan. Then, the regulations to follow, essential resources and tips for success.

Quebec is home to a wealth of businesses, the majority of which are small and medium-sized enterprises (SMEs). This entrepreneurial effervescence plays a key role in our economy. It’s easy to see why a host of advantages await new businesses. In short, here are the advantages of starting your own business at Quebec.

Starting a business at Quebec is relatively straightforward. What’s more, the start-up stages are highly documented, regardless of the legal form of the business – more on this later.

Quebec is a diverse and prosperous province, thanks in no small part to its trade relations with countries around the world. This makes our market a promising geographic location for companies.

The Government of Quebec and the Government of Canada offer numerous support programs for entrepreneurs and startup businesses. Both practical and financial, they greatly simplify the start-up and growth process. In addition, Revenu Quebec offers a vast network of resources. These include the offices of Services Quebec, which offers employment and business assistance. In addition to offering you personalized information, their services are accessible and free of charge.

Thanks to a highly regulated administrative system, Quebec businesses can declare their taxes without headaches. In the case of sole proprietorships, income and expenses are generally included in the owner’s personal income. The owner therefore benefits from the personal tax rate, which reduces administrative complexity and other inconveniences.

When it comes to tax returns, such as GST/QST sales tax, the formalities are just as straightforward. Everything can be done online in just a few clicks, at both provincial and federal levels. What’s more, all your business income data is available on your online portals. This means you can quickly consult your files, and obtain the tax proof you need when applying for financing, for example.

Thanks to its quality education system, including numerous higher education institutions, local businesses have access to a pool of qualified talent. And that’s not counting the international talent from all fields who make their home at Quebec. An invaluable wealth of skilled and multilingual workforce.

The cutting-edge infrastructure and technologies of Quebec are also a concrete advantage for local companies.

It’s important to remember that every company and entrepreneur is unique. Specific benefits vary according to industry, company size and other factors.

Are you a practical thinker? You’ll be happy to know that starting a business at Quebec involves a number of well-defined steps. Here they are.

You see your idea one way, but the market may see it another. What’s more, a good idea is not always profitable when implemented. That’s why it’s essential to carefully analyze its relevance to today’s market. This allows you to envisage its viability once it has been realized and brought to light.

Your tool of choice: market research. It allows you to gain an insight into the interest of your target market (direct customers or businesses) regarding your product or service concept. Does it meet an active need? Is the potential customer base sufficient to generate profits within realistic timelines? Who are your competitors? What’s the supply-demand ratio? These are some of the questions that market research encourages you to explore. This is a key step before starting your business at Quebec or elsewhere.

The legal form is the legal face of your company. Each legal form has its advantages and disadvantages in terms of management, responsibilities and administrative and tax procedures. The choice depends, among other things, on your company’s needs and short- and medium-term objectives.

If you want to start your own business at Quebec, registering your company with Quebec Enterprise Registrar (REQ) is an essential step. When you register your business, REQ will assign you a Business Number Quebec (NEQ). You can then use your NEQ to, among other things, identify yourself to REQ and other government agencies. Find out more:

While it is an excellent navigation tool for the business owner, the financial plan is also a requirement at various stages of your startup. For example, it is often required when applying for financing, loans, business credit cards, etc. This allows you to present your business project even if it hasn’t yet materialized.

At Quebec, resources available to new entrepreneurs and businesses abound. In addition to documentation and government programs, there are many other options available to you. Here are just a few of the ways in which thousands of start-ups gain access to business opportunities.

The effectiveness of local business networks such as the Chambers of Commerce at Quebec is often underestimated. Joining them, or taking part in the many events they organize, enables you to develop your own network of contacts, take the pulse of your local market and discover opportunities for collaboration.

With just a few clicks, you’ll find a wealth of varied information. From public to private organizations, they deploy practical data, offer relevant links and constantly update their content. The Internet is a goldmine for start-ups, if you know how to use it wisely.

Again, the Internet is your best ally. Depending on your needs, goals, and sector of activity, you can find training platforms, support, and mentoring. Moreover, most of these resources remain free for those starting a business.

Many people need financing to get started in business. Various financial institutions are developing their own financing programs, especially for you. Other options, such as participatory financing and bank loans, are also available. In short, there are many sources of financing available to you.

Asking people around you for help in the early stages of your business project is generally well received. For example, a friend or family member could help you with your bookkeeping, for a lower fee than a firm. One of your good customers can write a testimonial on your behalf to maximize your online credibility. The possibilities are endless; all you have to do is ask.

In short, there are many advantages to starting a business at Quebec. What’s more, the process is relatively straightforward. However, there are some key steps to follow, including choosing a legal form and creating a business plan. We’ve been there, so you can too. Take a look at our other business articles: