Your Guide to Starting a Business in New Brunswick

New Brunswick, often called the "Picture Province" for its stunning natural beauty, is also quickly becoming a canvas for entrepreneurial dreams. With a supportive ecosystem, a friendly business environment, and a cost of living that's more accessible than many other Canadian provinces, New Brunswick offers a compelling landscape for launching your next venture.

If you've been contemplating taking the leap into entrepreneurship, here's a look at why New Brunswick might be the perfect place to plant your business roots, along with key steps to get you started:

Why New Brunswick?

• Supportive Business Environment: The provincial government and various organizations are actively working to foster a thriving small business sector. You'll find a wealth of resources, from advisory services to potential funding opportunities.
   
• Affordable Living & Operating Costs: Compared to larger Canadian cities, New Brunswick offers significantly lower costs for real estate, commercial leases, and overall living expenses. This means your startup capital can stretch further.
• Access to Talent: With several universities and community colleges, New Brunswick boasts a growing pool of skilled graduates and a strong focus on workforce development.
   
• Strategic Location: Bordering the US and offering easy access to other Atlantic provinces, New Brunswick provides a strategic hub for regional and international trade.
• Quality of Life: Beyond business, New Brunswick offers a high quality of life with vibrant communities, stunning outdoor recreation, and a relaxed pace.
   

Your Roadmap to Starting Up in New Brunswick

Launching a business involves several crucial steps. Here's a simplified roadmap to guide you:

1. Develop Your Business Plan: This is your blueprint for success. Outline your business idea, target market, marketing strategy, operational plan, and financial projections. A solid business plan is essential for securing funding and staying on track.

2. Choose Your Business Structure: In New Brunswick, common options include:

   • Sole Proprietorship: Simple to set up, but you are personally liable for business debts.
      
   • Corporation (New Brunswick or Federal): Offers legal separation from your personal assets, but involves more complex setup and ongoing compliance.
   • Partnership: Allows you to share costs and responsibilities, but also risks and liabilities with partners.
      

   Note: If you plan to operate a sole proprietorship under a name other than your own, you'll need to register that business name.

3. Conduct a NUANS Name Search (Crucial for Corporations): If you're planning to incorporate your business (either provincially in New Brunswick or federally), a NUANS (Newly Upgraded Automated Name Search) report is a mandatory step. This report is crucial because it helps ensure your proposed business name is unique and doesn't conflict with existing registered corporate names or trademarks across Canada.

    

    

   • What is a NUANS Report? It's a comprehensive search of a database of existing corporate names and trademarks. The report will list similar names that could cause confusion.
   • Why is it important? To prevent you from choosing a name that's already in use, which could lead to your incorporation being rejected or, worse, legal disputes down the line. It protects your brand and avoids headaches.
   • How to get one: You can order a NUANS report through an authorized search house. Many law firms and corporate registry service providers offer this service. You'll typically provide a few name options, and they'll generate the report for you.
   • Reservation Period: Once you have a NUANS report, your proposed name is typically reserved for a limited time (e.g., 90 days), giving you time to complete the incorporation process.

4. Register Your Business Name or Incorporate: Once your NUANS search is clear (if required), you can proceed with officially registering your business name (for sole proprietorships/partnerships using a trade name) or incorporating your company through Service New Brunswick (SNB) online.

    

    

5. Obtain Necessary Permits and Licenses: Depending on your industry and business type, you'll need specific permits and licenses from federal, provincial, and municipal levels. The BizPaL online service (available through SNB) is an excellent tool to help you identify what you need.

    
    

    

6. Explore the Self-Employment Benefit Program: If you're currently unemployed and eligible for Employment Insurance (EI), or have recently been on EI, New Brunswick's Self-Employment Benefit (SEB) Program (also known as the Workforce Expansion Self-Employment Benefit Program) could be a game-changer for you. This program is designed to help unemployed individuals create their own jobs by starting a new business.

   Here's how it generally works:

   • Financial Support: If you're approved, you may continue to receive your EI benefits, or a provincially established weekly allowance, while you're in the initial development phase of your business. This financial cushion can be vital as you build your venture.
   • Coaching and Technical Advice: The program isn't just about money. It provides valuable mentorship, business training (e.g., in bookkeeping, marketing, sales), and ongoing technical advice to help you navigate the challenges of entrepreneurship.
      
   • Eligibility Criteria (Key Points):
     • Must be legally entitled to work in Canada and reside (or be willing to establish residency) in New Brunswick.
        
     • Must be unemployed and either currently receiving or eligible for EI benefits, or have had an EI claim within a certain timeframe.
     • Must not be a full-time student.
     • You must not have started your business before being approved for the program and signing a contract. This is a critical point.
     • You'll need to present a viable business plan.
     • The business must be a for-profit venture, operate on a full-time basis (at least 35 hours per week), and you must have significant decision-making control (typically 50% or more ownership).
     • You might need to provide a minimum capital contribution (e.g., 5% of total start-up costs).
   • How to Apply: The first step is to contact a Self-Employment Benefit Coordinator in your area (often through a local Community Business Development Corporation - CBDC). They will assess your eligibility, help you refine your business plan, and guide you through the application process.

7. Set Up Your Business Operations: This includes everything from finding a physical location (if needed) to setting up accounting systems, hiring staff, and establishing supplier relationships.

Key Resources for New Brunswick Entrepreneurs

New Brunswick offers a robust network of support for new businesses:

• Opportunities New Brunswick (ONB): The provincial economic development agency, offering guidance, connections, and support for businesses looking to navigate regulations, grow, optimize, and export.
   
• Atlantic Canada Opportunities Agency (ACOA): A federal agency that provides funding assistance, information services, and support to businesses in Atlantic Canada.
   
• Service New Brunswick (SNB): Your go-to for business registration, permits, and general government services.
• Community Business Development Corporations (CBDCs): Located across the province, they provide financial and advisory services, and are often the direct point of contact for the Self-Employment Benefit Program.
• Local Chambers of Commerce: Connect you with the local business community, offering networking events and information sessions.
• Business Incubators and Accelerators: Organizations like Planet Hatch (Fredericton), The HIVE (for immigrant entrepreneurs), Energia Ventures (for energy, smart grid, cleantech, and cybersecurity), and Propel ICT (virtual accelerator for tech companies) offer mentorship, programming, and co-working spaces.
   
• Canada Business Network - New Brunswick: A comprehensive online resource for business information and services.

Take the First Step!

Starting a business is an exciting journey, and New Brunswick offers a welcoming and supportive environment to make your entrepreneurial dreams a reality. Don't be afraid to leverage the many resources available to you, especially programs like the Self-Employment Benefit that can provide crucial support during your startup phase. With careful planning, determination, and the right support, your new business can flourish in the beautiful province of New Brunswick!