Startup Budget Planner
Estimate setup costs, working capital, and month-one cash needs.
Open Planner →Startup & Business Structure
Launch with confidence: choose the right structure, register properly, open business banking, set up software, and avoid costly first-year mistakes. Clear steps, templates, and tools included.
What You’ll Accomplish Here
- Pick the right structure (sole prop, partnership, corporation)
- Register the business & required program accounts
- Open business banking and separate finances
- Choose accounting/payroll software the smart way
- Price your offer and plan cash flow for month 1–12
- Avoid first-year tax and compliance mistakes
We focus on practical, step-by-step actions — not legalese.
At a Glance
| Decision | Quick Guidance |
|---|---|
| Structure | Sole prop is simplest; corporation when you need liability separation, income splitting, or retained profits. |
| Registrations | Business name/number, GST/HST if required, payroll if hiring, WSIB/WCB as applicable. |
| Banking | Dedicated business account + credit card; no personal spending. |
| Software | Start with QBO (or equivalent); add payroll and receipt capture as needed. |
Calculators & Tools
Break-Even Calculator
Know units or billable hours required to cover costs.
Open Calculator →Pricing Calculator
Set profitable prices by margin/markup and sanity-check against market.
Open Calculator →Business Structure Helper
Compare pros/cons of sole prop vs corporation for your situation.
Open Helper →Registration Checklist
Exact steps to register and what info you’ll need.
Download Checklist →Account & Folder Setup
Bank accounts, credit cards, and Google Drive folder structure.
Get Setup Guide →Step-by-Step: Launch in 10 Practical Moves
- Clarify your offer & audience. One sentence value proposition; outline 3 packages.
- Choose structure. Sole prop for simplicity; incorporate when liability/tax planning warrants it.
- Register the business. Name/BN, GST/HST (if required), payroll/WSIB if hiring.
- Open business banking. Chequing + savings (tax set-aside) + business credit card.
- Set up bookkeeping. QBO (or equivalent), chart of accounts, receipt capture, bank feeds.
- Price properly. Use Pricing + Break-Even tools; set margin targets.
- Plan cash flow. 12-month forecast and runway; schedule tax set-asides.
- Create basic policies. Invoicing, payments, refunds, expenses, mileage.
- Build your client intake. Simple form + document checklist; store in Drive.
- Review compliance calendar. GST/HST, payroll, T1/T2 deadlines; add reminders.
Pro Tip: Separate money from day one. One business account decision avoids 80% of first-year bookkeeping pain.
Templates & Checklists
Startup Checklist
From idea to first invoice — all the steps in order.
Download Checklist →Client Intake Form
Collect key details and documents efficiently.
Get Form →Policies Starter Pack
Payment terms, refund policy, expense & mileage templates.
Download Pack →Some downloads are member-only. Join below for instant access.
Common Problems & Fast Fixes
“I’m not sure if I should incorporate.”
Consider liability, income level, reinvested profits, and admin complexity. Use the Structure Helper and speak with a pro if unsure.
“Money is mixed with personal.”
Open business accounts now; re-categorize past transactions; implement a strict spending policy.
“I don’t know what to charge.”
Start with margin goals and break-even. Package/bundle to increase perceived value.
“I forgot about GST/HST.”
Check registration threshold and place-of-supply rules; set weekly tax set-asides.
FAQs
When should I incorporate?
Common triggers: liability protection, income splitting, retaining profits for growth, or credibility needs. If income is low/variable, a sole prop is often fine to start.
Do I need GST/HST right away?
Register once you exceed the small supplier threshold over 4 consecutive calendar quarters or expect to soon. Some businesses must register regardless.
What software should I start with?
Begin with QBO (or equivalent) + receipt capture; add payroll when hiring. Keep it simple and consistent.
How much working capital do I need?
Plan at least 2–3 months of core expenses plus initial inventory/marketing. Use the Startup Budget Planner and Cash Flow Forecast.
Related Guides
Cash Flow & Money Management
Forecast month-by-month and plan runway.
Open Guide →Bookkeeping & Accounting Basics
Build a clean system from day one.
Open Guide →Taxes: Corporate & Personal
Plan owner pay and keep more after tax.
Open Guide →Start Strong, Grow Smart
Join Small Business Navigator to unlock calculators, templates, and step-by-step training for a confident launch.
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