As you grow and expand your business, you’ll likely need to understand and comply with additional regulations that you might have not encountered during start-up. Here you'll find information on the most common ways businesses evolve and what resources are available to help you plan your growth.
When it’s Time to Hire Help
If your business is hiring employees for the first time, consult the many fact sheets and guides for new employers available on the B.C. Employment Standards Branch website.
New Products, New Services—New Regulations
If you’re planning to add to your product line, or expand your service offering, be sure to review your permits and licences. You might need to upgrade existing permits or licences, or obtain new ones altogether.
Your business could even be subject to zoning restrictions. Visit BizPal and Small Business BC’s Industry Matrix to see what regulations apply to the new products and services you’re selling. And check with your municipality directly to make sure you’re in compliance with their regulations and bylaws.
Beyond the Sole Proprietorship or Partnership
Many businesses decide to change legal structures once they start to grow. A very common change is to move from a sole proprietorship to a corporation by incorporating.
It’s a good idea to consult a lawyer when changing business structures. In most cases, the original business must be dissolved, and the assets sold to the new business that has the desired structure. Depending on the business, this process can be complex and a lawyer can save time and money in the long run. Refer to our Legal Requirements—Starting section for more information.
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