FAQ

Where do I go when I want advice for starting a business in the Greater Fredericton Region?
Enterprise Fredericton is your first point of contact for starting a business in the City of Fredericton, Town of Oromocto, and the Village of New Maryland. You can meet with one of our Business Development Officers to discuss the local market, business planning, and what steps to take to start your business. If we don’t have the answer to your questions we can direct you to the person that does.

How much do appointments cost?
All Enterprise Fredericton appointments are free of cost and confidential. Please book appointments in advance by calling 444-4686

What funding programs does Enterprise Fredericton offer?
Enterprise Fredericton works with ACOA to provide the Seed Capital Program. This loan provides funding to start, expand or improve a small business, as well as acquire business skills training. Up to $20,000 is available per applicant in the form of a repayable, unsecured personal loan with flexible interest and repayment terms. Up to $2,000 is available per applicant for specialized training and business counseling.

For more information on the SEED Capital Program, contact:
Chrystal Hallihan, Business Development Officer
506 444 4686
chrystal.hallihan@ent-fredericton.ca

What if I don't qualify for a SEED Loan?
Enterprise Fredericton Business Development Officers are aware of several funding programs and are able to assist you with those applications.

What is the difference between sole proprietorship, partnership and incorporation?
A sole proprietorship is owned by one person, who may also be the employee. The owner receives all the business profits and must also bear all the losses. The sole proprietor is personally liable for any lawsuits or other business problems.

A partnership consists of two or more people who share in all the decisions, profits and losses, as well as liabilities of the business. We recommend that the partners of a business meet with a lawyer to draw up a partnership agreement to define the responsibilities of each partner and how profits will be shared.

A corporation is a legal entity made up of one or more shareholders united under one common name. A business needs to incorporate when the owner wants to raise money by selling equity or when the owner needs protection from being liable for lawsuits or debt that could incur by the business.

How do I register my business?
You must register your business through the Corporate Affairs Branch of Service New Brunswick. They will require you to have a name search report conducted. This is obtained from a private name search firm. The report must be an Atlantic based NUANAS search report and current (i.e. submitted with 90 days)

Send documentation to Corporate Affairs Branch. If you decide to do business in other provinces, you may wish to incorporate federally. This will allow you to do business anywhere in Canada. For more information contact:
Corporate Affairs Branch
Service New Brunswick
432 Queen Street
Ph: 1-888-762-8600
Web site: www.snb.ca

Do I need to register my business if I’m operating out of my home?
If you are planning to operate a sole-proprietorship or partnership under your own name without adding anything to your name (e.g. Jenny Smith), then you do not need to register your business. While most banks will not allow you to open a business bank account without proof of a business registration as a sole proprietorship or incorporation, keep in mind that if you decide to add something to your name (e.g. Jenny's Babysitting) then your business would need to be registered. It is best if you check with Service New Brunswick Corporate Affairs to see if you need to register your business.