Start Your Burnaby Wholesale Trade Agents and Brokers Business Today
This Burnaby guide helps you start a Wholesale Trade Agents and Brokers business (NAICS 425120) with a practical, friendly roadmap. Learn what you need to register, license, and operate, plus a realistic view of permits, costs, and timelines so you can plan with confidence.
Five core requirements guide the setup: 1) BC corporate or trade name registration; 2) a Burnaby business license (permit); 3) a CRA Business Number and GST/HST registration; 4) any provincial compliance for wholesale trade; 5) simple accounting, insurance, and budgeting systems. Costs are package-friendly—initial registration and license fees are typically in the low hundreds CAD, with ongoing taxes and insurance. Timeline is usually several weeks, up to a couple of months, depending on paperwork and approvals.
Burnaby’s proximity to Vancouver, solid logistics, and supportive business services make it a strong home base for wholesale brokers. Easy access to suppliers and customers helps you grow fast while keeping operations efficient and cost-effective.
Requirements Overview
The most critical requirement for operating a business in Burnaby is Business Number (BN) Registration. The BN is issued by the Canada Revenue Agency and is the single identifier you’ll use for taxes, payroll, and other dealings with the government. You cannot legally operate, file taxes, or open accounts without a BN, so this requirement is non-negotiable and must be in place before you do anything else.
For operational health and safety, you’ll want to align with BC rules so your team stays protected and compliant. This means arranging WorkSafeBC coverage for your employees and following basic health and safety practices in your workplace. Keep safety training up to date, maintain clear incident reporting, and follow the province’s requirements so you’re prepared to handle any workplace situations responsibly.
On the business-registration and tax side, you’ll need to handle a few federal and provincial registrations. If you plan to trade under a name other than your own, register a BC Business Name (for sole proprietorship or partnership). Your BN will cover obligations like GST/HST and payroll deductions, so you’ll also register for GST/HST and for payroll deductions as soon as you hire or have employees. These registrations work together to keep your finances compliant and organized as you grow.
If you’re ready, the next steps are straightforward: apply for your BN, determine whether you need a BC Business Name registration, and set up GST/HST and payroll accounts. Don’t forget to contact WorkSafeBC to set up coverage for your team. With these in place, you’ll have a solid, compliant foundation and can focus on building your wholesale trading business in Burnaby.
Detailed Requirements
Here are the specific requirements for starting a wholesale trade agents and brokers in Burnaby:
-
Business Number (BN) Registration RequiredA 9-digit Business Number is required for most businesses operating in Canada. It is used to interact with the Canada Revenue Agency and other federal programs. Required for GST/HST, payroll, corporation income tax, and import/export accounts. Register FREE online through Business Registration Online (BRO) at canada.ca. Takes 15-30 minutes. As of November 3, 2025, online registration is MANDATORY for new BNs - phone registration no longer available. You'll need: business name, address, owner SIN, business type, and start date. BN (9-digit number) issued INSTANTLY online. Available 21 hours/day, 7 days/week (closed 3-6am ET for maintenance).
-
BC Business Name Registration (Sole Proprietorship/Partnership) RequiredRegistration of sole proprietorship or partnership business names with BC Registries Register sole proprietorship or partnership at bcregistry.gov.bc.ca. Name reservation: $30 (standard) or $100 (priority 1-2 days). Registration fee: $40. Total: ~$70. Name reserved for 56 days after approval. Registration is continuous (no renewal required). No name protection for sole proprietorships. Personal names operating under own name do not require registration. Contact BC Registries: 1-877-526-1526.
-
GST/HST Registration ConditionalRequired if annual taxable revenue exceeds $30,000 (small supplier threshold). Taxi/ride-share drivers must register regardless of revenue. Businesses with gross revenues over $30,000 in any single quarter or over four consecutive quarters must register for, collect, and remit GST/HST. Small suppliers (under $30,000) may register voluntarily. Register FREE online through Business Registration Online (BRO) when your revenue exceeds $30,000 in any 4 consecutive quarters (small supplier threshold). Takes 15-30 minutes. You MUST register within 29 days of exceeding threshold and start charging GST/HST immediately on the sale that made you exceed it. Need your BN (or get one simultaneously). As of Nov 3, 2025, online registration is mandatory. Voluntary registration available anytime for input tax credits.
-
Payroll Deductions Registration ConditionalRequired if you pay salaries, wages, or other remuneration to employees. Must register before first pay period. Required if you have employees. You must withhold Canada Pension Plan (CPP), Employment Insurance (EI), and income tax from employee wages and remit to CRA. Register FREE online through Business Registration Online (BRO) when you hire your first employee. Takes 15-20 minutes. You'll need your Business Number (BN) or can get one simultaneously. Payroll account (RP) added to your BN instantly. Register BEFORE your first pay date. Required to deduct CPP, EI, and income tax from employee wages. For 2025: CPP rate 5.95%, EI employee rate $1.66/$100 insurable earnings.
-
WorkSafeBC Coverage and Registration ConditionalRequired if you have workers in BC. Workers compensation insurance coverage through WorkSafeBC for employers in British Columbia WorkSafeBC coverage required for most BC employers. Average base premium rate: 1.55% of assessable payroll ($1.55 per $100). Register online at worksafebc.com. Apply 30 days before starting business or hiring workers. Processing: ~10 business days. Premium rates vary by industry classification (514 classification units). COR certified employers eligible for 10% rebate. Contact: 604-276-3100 or 1-888-967-5377.
Ready to Launch Your Business?
Starting a business can be complex, but you don't have to do it alone. Our AI-powered business matcher can help you understand exactly what you need for your specific situation.
Try Our AI Business Matcher Get Expert Help
No credit card required • Takes 2 minutes
Browse Other Business Sectors
Explore business requirements in other industries: