Starting a Commercial Painting Business

There are many opportunities to start a business in Canada. Among these, one industry that can be very lucrative to start a business in, is commercial painting. There are opportunities to specialize in professional painting for homes, but the commercial properties are much larger establishments. There are a few things to keep in mind when setting up your commercial painting business.

The Business Plan

Every business should start with a plan. This is a detailed outline as to what the company is going to do, how to go about it, and some projections. This can be used as a guideline for going through the set up of the business. Some templates can be found online to help draft a proper business plan. This plan can also be useful if financing for the new company has to be arranged.

Business Registration

Every business in Canada has to be registered, and when it is, then a business number is assigned. This is the number that is used when dealing with the government, such as for harmonized sales tax and business taxes.

Insurance

Business insurance for a commercial painting company is critical. Part of what it covers is for liability, which is vitally important for this type of business.

Workman’s Compensation

It is important to look into whether workman’s compensation is going to be needed. This will depend on the number of employees that the new business will be hiring. It is the type of insurance that is required to protect workers in case of injury.

Financing

It has to be determined whether financing will be needed for this new start-up business. It is worth checking to see if there are any business grants or loans that it may be eligible for.

There are several more steps that are needed to get the business up and running, but this is a good start.