Venn Launches Simplified Business Incorporation for Ontario Entrepreneurs
Venn Launches Simplified Business Incorporation for Ontario Entrepreneurs
Toronto-based SME challenger bank Venn has launched a new service that makes it faster, easier, and more affordable for Ontario entrepreneurs to incorporate their businesses.
With just one online application, entrepreneurs can complete the entire incorporation process in under five minutes - no paperwork, in-person visits, or multiple filings required. They can also open a Venn business account at the same time, with no extra service fees and a welcome bonus of up to $350, depending on the incorporation type.
Why This Matters
Starting a business in Canada can be expensive and time-consuming, with government fees reaching up to $300 CAD and added admin tasks like name searches, filings, and banking setup. Venn simplifies this with an all-in-one solution that combines business incorporation and banking, reducing friction for startups and small businesses with limited time and resources.
By combining business incorporation with banking services, Venn provides a seamless experience that reduces friction in the early stages of business formation.
The Offering
Venn’s incorporation service includes:
Federal Incorporation: $199 government fee + $250 bonus when the business account is funded
Provincial Incorporation: $299 government fee + $350 bonus upon account funding
Both options include:
Name search and reservation (NUANS)
Federal or provincial registration, including Articles of Incorporation
Fast results: Typically within 1-2 business days, depending on incorporation type
No additional service fees - just a simple, cost-effective path to incorporation.
What This Means for the Industry
For Entrepreneurs:
Faster, cheaper, and simpler business setup, removing traditional barriers to entrepreneurship and encouraging more Canadians to start companies.
For the SME Market:
Venn’s integration of banking and incorporation sets a new standard for convenience and accessibility, giving small businesses a modern, frictionless start.
