Ask an expert

As an entrepreneur, what are your biggest questions about starting or running a business in Kelowna?

Putting your business plan or idea into action can be daunting. There are the many logistical and legal requirements to consider, as well as financing, permitting and staffing. And that doesn’t even touch on the operational considerations.

Having an arsenal of resources that you can access will make the process smoother and allow you to move through planning to launch to successful operation with relative ease.

The City’s Business License Manager and Business and Entrepreneurial Development Director, as well as the Business Banking Advisor from our business services sponsor Valley First, a division of First West Credit Union, are ready to take the mystery out of which kind of business license you need, if Kelowna is right for you and how to manage the financial and insurance aspects of your business.

Valley First’s advisors shared some of the common questions they get asked about starting and running a business, including the following.

  • How to get started with registering your business and when to incorporate
  • What type of business you should consider
  • What type of insurance you need What is the most efficient way to pay your suppliers and staff
  • How to get access to credit for cash flow even as a new or newer business
  • How to manage day-to-day business banking
  • Do you need a separate business account as a sole proprietor
  • When do you need to start succession planning

Share your questions below about starting or running a business in Kelowna.


As an entrepreneur, what are your biggest questions about starting or running a business in Kelowna?

Putting your business plan or idea into action can be daunting. There are the many logistical and legal requirements to consider, as well as financing, permitting and staffing. And that doesn’t even touch on the operational considerations.

Having an arsenal of resources that you can access will make the process smoother and allow you to move through planning to launch to successful operation with relative ease.

The City’s Business License Manager and Business and Entrepreneurial Development Director, as well as the Business Banking Advisor from our business services sponsor Valley First, a division of First West Credit Union, are ready to take the mystery out of which kind of business license you need, if Kelowna is right for you and how to manage the financial and insurance aspects of your business.

Valley First’s advisors shared some of the common questions they get asked about starting and running a business, including the following.

  • How to get started with registering your business and when to incorporate
  • What type of business you should consider
  • What type of insurance you need What is the most efficient way to pay your suppliers and staff
  • How to get access to credit for cash flow even as a new or newer business
  • How to manage day-to-day business banking
  • Do you need a separate business account as a sole proprietor
  • When do you need to start succession planning

Share your questions below about starting or running a business in Kelowna.


As an entrepreneur, what are your biggest questions about starting or running a business in Kelowna? Share your questions below, and one of our business experts will respond back with an answer.

Ask an expert

Ajax loader transparent
Forgot password?
Didn't receive confirmation?
Register Now
Seems like you are already registered, please provide the password. Forgot your password? Create a new one now.

  • Do you have any advice for someone operating an Airbnb on best banking practices?

    Todd asked 2 months ago

    AirBnB is something that has garnered much more attention recently due to the tax and real estate impacts of the businesses. My recommendation on this matter, strictly pertaining to banking, is to ensure that you keep these activities separate from your personal banking. Have your business number, separate the transactions, and ensure good record-keeping. Operating an AirBnB is considered a business and it is important to look into insurance, strata regulations if applicable, zoning, bylaws, business licensing, etc.


  • Can I use my personal bank account for my personal trainer business?

    Todd asked 2 months ago

    This is one we see quite often, and I think you will get different answers depending on who you ask. The quick answer is: yes, you can use your personal bank account for a personal training business if you are a sole proprietor. However, the answer can become more complicated than this as you start to consider one key aspect of business which is taxation. If you’re using one account for all of your personal and business activities, it can be hard to differentiate which activities are business related. This can become a problem when you’re filing your tax return, as there may be tax deductions for some of your purchases or activities. I would suggest talking to a tax professional for more specific information.

    One other consideration is if you’ve registered a trade name. If you are operating under any name, other than your legal name, you will have registered a trade name with the BC Registry. If this is the case, you will require a separate business account.


    This is one we see quite often
    This is one we see quite often

  • How do I get my event planning business registered and how do I know what kind of insurance I need? Thank you!

    Lori asked 3 months ago

    Great question! Registering your business is one of the first steps in getting your Event Planning business operational. There are quick and easy ways to get the process started yourself through the BC Online website (https://www.bconline.gov.bc.ca/). As a sole proprietorship, you would be able to register a trade name or a ‘doing business as’ via the OneStop service located at (https://onestop.gov.bc.ca/). If you’re intending to incorporate your business, the Corporate Online service (https://www.corporateonline.gov.bc.ca/) would be where you’d want to start.

    These services are both found on the BC Online website. For more complicated arrangements, it may be worth discussing your registration with a lawyer. As for the insurance which would be recommended for an event planning business, the most important would be general liability and professional liability. It does depend on the type and frequency of the events, but in most cases a liability policy insures against bodily injury, property damage, etc. that would relate to your planning operations. If you’re both planning and hosting events, there is a slightly more comprehensive policy you would want to consider.


    event planning
    event planning

  • Do you have any advice on how to manage day-to-day banking for a small business?

    Jessica asked 3 months ago

    Your day-to-day business banking should not be a burden on you, your business, or your bookkeeper. Your financial institution should have services available to you that make managing your accounts simple and intuitive. For example, Valley First allows you to delegate view-only access to your online accounts. This is a more secure option than providing staff, such as your bookkeeper, with your personal credentials.

    If you’re working with an account manager, you will have a professional advisor on your side to make recommendations regarding account balances, credit products and to assist in account operations. With the ability to automatically accept e-transfers, deposit cheques using just your phone’s photo feature and access your accounts with a mobile app, your accounts should require little upkeep.