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Memphrémagog CLD
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Frequently Asked Questions

Q.    Which towns and municipalities does the CLD de la MRC de Memphrémagog cover?

A.    The 17 towns and municipalities in the MRC de Memphrémagog are Austin, Ayer’s Cliff, East Bolton, Eastman, Hatley Township, Hatley, Magog, North Hatley, Ogden, Orford Township, Potton Township, Saint-Benoît-du-Lac, Saint-Étienne-de-Bolton, Sainte-Catherine-de-Hatley, Stanstead Township, Stanstead, and South Stukely.

Q.    What kind of training is available for people who want to start up a business in the area?

A.    There is a training program called Lancement d’une Entreprise (starting up a business). It is offered in Magog by the Commission scolaire des Sommets (school board) in cooperation with the CLD. For more information, visit the section Training on Starting Up a Business.

Q.    Do I have to register my business?

R.   Whether you have a legal obligation to register or not depends on the type of business. Registered businesses are automatically entered in the business register.

Individuals operating a sole proprietorship in Quebec under a name that consists of their given name and surname may be registered or not. Partnerships may be registered or not.

To register your business, contact Revenu Québec:

Revenu Québec
2665, rue King Ouest, 4e étage
Sherbrooke (Québec) J1L 2H5
819-563-3776
www.revenuquebec.ca/en/

Q.    What legal form should I opt for?

R.    Every business operates under one legal form or another. You can find out more about the various legal forms by clicking the links below.

Source : http://www2.gouv.qc.ca

Q.    What assistance can the CLD provide?

R.   

  • Coaching in developing a business plan
  • Help in seeking financing
  • Business mentoring in cooperation with the Dobson-Lagassé Entrepreneurship Centre
  • Conducting networking activities
  • Offering training activities (such as on the GST and QST, and the tax system)

Q.    Who is a self-employed worker?

R.   Generally, a self-employed worker:

  • Defrays his own expenses.
  • Assumes the financial risks inherent in his work.
  • Supplies his own equipment but does not necessarily perform the work personally.
  • May have employees or contract out to self-employed workers.
  • Determines himself where the work will be performed and his work schedule.

Source: http://www.revenu.gouv.qc.ca/en/travailleur_autonome/default.aspx

Q.    Do I need to register for the GST and QST?

R.    Quebec's tax system is based on the principle of self assessment. You are responsible for declaring your income, determining how much tax you should pay, and collecting GST and QST if your taxable sales are greater than $30,000 for four consecutive calendar quarters. In the case of non-profit bodies, the organization's revenues must be greater than $50,000.

Source: http://www.revenu.gouv.qc.ca/en/entreprise/taxes/default.aspx

Q.    What is the social economy?

R.    The concept of social economy combines two aspects:

Economy:
This refers to the production of goods or services by businesses contributing to the wealth of society as a whole.

Social:
This refers to the social (not purely economic) benefits of activities. These benefits are measured by the contribution to democratic development, the support of an active citizenry, and the promotion of values and of collective and individual empowerment initiatives. The social benefits therefore contribute to improving the population's quality of life and well-being, in particular, through the offering of a greater number of services. As is the case in the traditional public and private sectors, social benefit can also be assessed in terms of the number of jobs created.

Source: Chantier de l’économie sociale, une économie à valeurs ajoutées, outil de sensibilisation à l’économie sociale.

For more details, visit the Social Economy section of our Web site.

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