Hi! I will be making a leap of faith next week. Have decided to resign from my construction job and start my own small home renovation business full time. I like to register my business. Do you advice an LLC or Corporation business registration? May I ask what most of you here have?
Also, I am into general contracting. I only do mostly finishing basements - wall framing, wall partitions, wall finishing, floor laminate installations, and bathroom tiling. Do I need a permit for making wall partitions? and demolishing non-loadbearing walls?
Also, I only contract licensed plumbers and electricians to do my projects. But as a general contractor, do I need a license?
Lastly, If I need to apply for a permit? Do we have a list of engineers in this website to hire for drawings?
Forgive me for my so many questions. I just want to do this right and advices from Pros like you would be of great help.
Thank you in advance.
Assuming you are from London Ontario. you would require a few things for setting up a company. I would suggest contacting any business lawyer to set things up for you. a numbered company with a trade name is the most common setups for contracting companies. (Ltd. or Inc also) you will also require WCB coverage and Insurance (around 5Million is what i do). Lastly you will require a business license for your munucipality at least.
For permits. if you are moving a wall or doing anything that affects structural, electrical, HVAC or Plumbing you will need appropriate permits. you can find out what permits are needed by contacting your local municipal office of where the projects are.
In Ontario there are also requirements for drawings etc. which you would need a BCIN certification or sub out to someone who has a BCIN number in order to do certain applications that require drawings.
Total costs for your setups and insurance you are looking at about $7,000
There may be more steps i am not familiar so i do suggest contacting your local bylaw/municipal offices.
Hi Carl, Best of luck on your next chapter.
We are Incorporated as there is more security, as well as more cost. But it's worth it at the end of the day.
Regardless of what you do, you need a business lic to operate, even if your selling socks. They are fairly straight forward to get, and highly recommended as you could face fines for not carrying one. Technically, you need one for every city you plan to work in.
As well as a lic, you need Gen.Liability insurance for at least $2m and WSIB.
As for architects and engineers, search them out in IG. This way you can see their work work before you hire them. Keep in mind, you don't alwasy need an architect. An interior designer or engineer can complete your drawings, they just need a BCIN#
I hope I was able to help.
Best of luck,
Get a business lawyer or accounting company such as BDO that does incorporating and they can give you advice on best options for your business set up.
You need a building permit anytime you are adding or removing walls in a home whether load bearing or not.
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