An average of 5,000 new businesses register in the province of New Brunswick each year. As of October 31, the Corporate Registry of New Brunswick saw a 14.2 per cent increase in registry transactions in 2021 over the previous year. Despite the challenges of the past two years, a significant number of New Brunswickers are still taking the entrepreneurial plunge.
What better time than now to make starting a business in New Brunswick a little easier? As part of our combined efforts to reduce regulatory burdens on our businesses, The Government of New Brunswick, Service New Brunswick (SNB), Innovation, Science and Economic Development Canada (ISED), and Opportunities NB (ONB) are excited to launch the new Business Structures Wizard tool.
What is it?
For some, deciding on the type of business to launch as – sole proprietorship, general partnership, NB Corporation – can be a challenge. The Business Structures Wizard is a new, free self-serve tool designed to help entrepreneurs choose their appropriate business structure. This new tool will add much more clarity to the process – as it comes to New Brunswick with a proven track record via a successful pilot launch in British Columbia. Built on BizPaL, the Wizard was developed collaboratively by the provinces and territories, and our federal partners at ISED.
The Business Structures Wizard offers eight simple questions to help entrepreneurs better understand their options and the implications of their choices, in establishing a business in New Brunswick such as liability. It provides simplified access to information and government services. This means fewer errors, less uncertainty, and an overall reduction of burden on businesses.
Built for New Brunswick
The New Brunswick version of the Business Structures Wizard is tailor-made for our province, which means entity types that exist in other jurisdictions are not part of the equation. It is also available in both French and English (see links below).
The Wizard provides another layer of support for entrepreneurs, complementing the existing services offered by SNB and ONB.
SNB continues to help entrepreneurs officially register their business names and incorporate their businesses. ONB’s Business Navigation Team, meanwhile, is available to offer additional support with licensing, regulations, inspection requirements, permits, and more. It’s a No Wrong Door approach to helping you get started on the path towards a successful business launch.
If you are interested in getting started on your own entrepreneurial journey, click the appropriate link below to begin.