Build a Financially Sound Business from Day One in Canada
From bookkeeping setup and tax planning to government grants, investor readiness, and SR&ED credits — Solaris gives immigrant entrepreneurs the financial infrastructure to operate, fund, and grow their Canadian businesses with confidence.
Canada’s Financial System Is Complex — And the Consequences of Getting It Wrong Are Serious
Foreign entrepreneurs frequently underestimate the complexity of Canada’s financial and tax environment. GST/HST registration, corporate tax filing, payroll remittances, and CRA compliance obligations each carry penalties for non-compliance — and immigrant business owners face these without the institutional knowledge that Canadian-born entrepreneurs typically inherit.
At the same time, Canada offers some of the most generous business funding programs in the world — the SR&ED tax credit program, BDC financing, government grants through regional development agencies, and CEBA-successor programs — but these programs are largely unknown to newcomers and require expert navigation to access.
Solaris provides financial advisory services that bridge this gap: setting up your accounting correctly from the beginning, connecting you with the government funding you qualify for, and preparing you to attract private investment when the time is right.
Federal corporate tax rate (2024)
15%
Small business deduction rate (CCPC)
9% (on first $500K)
SR&ED credit — refundable (CCPC)
Up to 35%
Total available grants & loans (federal)
$50B+ annually
GST registration threshold
$30,000 revenue
BDC loan limit (small business)
Up to $100K (online)
Avg. SME accounting cost (annual)
$2,000–$8,000
CRA late filing penalty (minimum)
5% + 1%/month
Federal
& Provincial Coverage
Partner
Licensed Services Included
Seven Financial Advisory Services for Your Canadian Business
From the first day of incorporation through to investor funding rounds, Solaris provides financial advisory support at every stage of your business journey.
Bookkeeping & Accounting Setup
Establish clean, CRA-compliant financial records from day one — chart of accounts, software configuration, and ongoing bookkeeping through certified Canadian partners.
One of the most common and costly mistakes made by immigrant entrepreneurs is treating bookkeeping as something to address later. In Canada, financial records must be maintained in a manner that satisfies the Canada Revenue Agency (CRA) from the first day of business operations. Retroactively reconstructing financial records is expensive, error-prone, and can trigger CRA scrutiny.
Solaris coordinates bookkeeping and accounting setup through CPA Canada-designated professionals who configure your financial infrastructure correctly from the outset:
| Deliverable | Details |
|---|---|
| Chart of accounts setup | Industry-appropriate account structure for your business type (retail, service, construction, etc.) |
| Accounting software configuration | QuickBooks Online, Xero, or Wave — setup, access, and initial training |
| GST/HST account registration | CRA registration for GST/HST reporting and remittance setup |
| Opening balance entry | All incorporation costs and startup expenses recorded correctly |
| Bank account linkage | Business bank account connected to accounting software for automated reconciliation |
| Monthly bookkeeping (ongoing) | Bank reconciliation, expense categorisation, invoice management, financial reports |
Partner-Delivered
Bookkeeping and accounting services involve regulated activities in Canada. Solaris coordinates delivery through CPA Canada-designated accountants. Solaris manages client coordination; regulated financial work is performed by the licensed CPA partner.
Tax Planning — Corporate, GST/HST
Structure your Canadian corporation to minimise tax obligations legally, comply with all CRA filing requirements, and avoid the penalties that catch uninformed newcomers.
Canada’s tax system is multi-layered: federal corporate tax, provincial corporate tax (which varies by province), GST/HST on goods and services, payroll deductions (CPP, EI, income tax), and potentially provincial sales tax depending on where you operate. Understanding which taxes apply to your business, when to file, and how to minimise your legal tax burden requires expert guidance from the outset.
Key tax considerations for immigrant-founded businesses include:
Canadian-Controlled Private Corporation (CCPC) status
If you qualify as a CCPC, your first $500,000 of active business income is taxed at 9% federally — a significant advantage over the standard 15% rate.
GST/HST registration and remittance
Once your revenue exceeds $30,000 in a single calendar quarter or four consecutive quarters, registration is mandatory. Failure to register is a CRA offence.
International tax treaty implications
If you have income or assets in your home country, Canada’s tax treaties may affect your obligations. This is especially relevant for entrepreneurs from China, India, the UAE, South Korea, and Brazil.
Payroll remittances
If you have employees, you must remit CPP, EI, and income tax deductions to the CRA on a regular schedule or face penalties.
Partner-Delivered
Tax planning and filing services are regulated activities in Canada. Solaris coordinates delivery through CPA Canada-designated tax professionals.
Government Grant Identification
Identify, evaluate, and apply for federal and provincial government grants that your Canadian business qualifies for — non-repayable funding that most newcomers do not know exists.
Canada offers over 1,500 federal and provincial grant, loan, and subsidy programs for small businesses — totalling over $50 billion annually. The majority of immigrant entrepreneurs are unaware these programs exist or assume they do not qualify as newcomers. In reality, many programs are specifically designed to support new Canadians, minority business owners, and businesses in underserved markets.
Solaris conducts a systematic grant eligibility assessment across all relevant funding databases:
| Program Type | Example Programs | Typical Value |
|---|---|---|
| Federal development agencies | Western Economic Diversification, ACOA, FedDev Ontario | $25K–$500K |
| Innovation funding | IRAP (NRC), SDTC, Innovative Solutions Canada | $50K–$1M+ |
| Export development | EDC Export Guarantee, CanExport | $20K–$100K |
| Provincial business grants | BC Employer Training Grant, Ontario Workforce Development Fund | $5K–$100K |
| Minority & newcomer programs | WEKH funds, BDC Diversity Lending, regional newcomer programs | $10K–$50K |
| Sector-specific grants | Agri-food, clean technology, health innovation, ICT | Varies widely |
Investor Readiness & Pitch Support
Prepare your business to attract Canadian angel investors, venture capital, and institutional funding — with the financial documentation, pitch materials, and valuation frameworks investors expect.
Raising private capital in Canada requires more than a compelling idea. Canadian investors — whether angel investors, venture capital firms, or institutional lenders — expect a clearly documented financial history, a defensible valuation methodology, a well-structured pitch deck, and a realistic use-of-funds plan. Foreign entrepreneurs who present materials formatted for their home market frequently fail to meet these expectations.
Solaris prepares you for the Canadian investment landscape with a complete investor-readiness package:
Cash Flow Planning
Build a 12–24 month cash flow model that keeps your Canadian business solvent through the critical early-stage period and identifies funding gaps before they become crises.
Cash flow — not profitability — is the primary reason most early-stage businesses fail. A business can be generating revenue and still run out of money if its payment timing, expense structure, and working capital requirements are mismanaged. This problem is especially acute for immigrant entrepreneurs who are simultaneously managing relocation costs, immigration legal fees, and business setup expenses.
Solaris builds a detailed, month-by-month cash flow model for your Canadian business covering:
BDC / EDC / CEBA Loan Advisory
Navigate Canada’s government-backed lending programs — Business Development Bank of Canada, Export Development Canada, and successor programs — to access affordable debt financing for your business.
Canada’s government-backed lending institutions provide financing specifically designed to support small and medium-sized businesses that may not yet qualify for conventional bank loans. For immigrant entrepreneurs who lack a Canadian credit history, these programs represent an accessible and affordable path to growth capital.
Business Development Bank of Canada (BDC)
Canada’s bank exclusively for entrepreneurs. BDC offers term loans, working capital financing, and equity investment. Their Small Business Loan product (up to $100,000 online, more through advisors) is available to businesses incorporated in Canada with at least 24 months of operating history. BDC also offers start-up financing for businesses under two years old in specific circumstances.
Export Development Canada (EDC)
If any portion of your business involves export — selling goods or services outside Canada — EDC offers credit insurance, export guarantees, and financing products that help you extend credit to international customers without putting your own cash at risk. EDC is free to use and available to all Canadian-incorporated businesses.
CEBA Successor Programs
The Canada Emergency Business Account (CEBA) closed for new applications; however, federal and provincial governments continue to introduce successor working capital programs. Solaris monitors current program availability and advises on eligibility and application.
SR&ED Tax Credit Advisory
Claim Canada’s Scientific Research & Experimental Development tax credit program — one of the most generous R&D incentives in the world — and recover up to 35% of eligible expenditures.
The Scientific Research and Experimental Development (SR&ED) program is Canada’s largest single source of federal government support for research and development. It provides tax credits for eligible R&D expenditures — including salaries, materials, overhead, and contractor costs. For Canadian-Controlled Private Corporations (CCPCs), the federal refundable credit rate is up to 35% on the first $3 million of eligible spending, making this one of the most valuable tax programs available to technology, manufacturing, food science, and engineering businesses.
SR&ED applies to a far wider range of activities than most entrepreneurs realise. You do not need a formal “research laboratory” to qualify. Activities that attempt to resolve technological uncertainty — including software development, process improvement, product testing, and novel engineering — may qualify for SR&ED credits.
Partner-Delivered
SR&ED claims involve regulated tax filings. Solaris manages project assessment, documentation, and coordination. Regulated tax filing is performed by CPA Canada-designated professionals with SR&ED specialisation.
How We Build Your Financial Foundation
A structured, five-stage engagement ensures your financial infrastructure is correct, compliant, and positioned to access every dollar of funding you are entitled to.
Financial Discovery & Diagnostic
We begin with a comprehensive financial diagnostic covering your business structure, current or planned revenue streams, existing financial records (if any), tax obligations in your home country, and your short and medium-term funding requirements. This produces a financial roadmap that sequences every advisory intervention in order of urgency and impact.
Compliance Infrastructure Setup
We establish the foundational compliance layer: CRA business number registration, GST/HST account setup, corporate bank account guidance, accounting software configuration, and bookkeeping framework (through our CPA partner). This ensures your business meets all regulatory obligations from its first day of revenue.
Funding Eligibility Assessment
We conduct a systematic scan of all federal and provincial grant programs, government-backed lending products (BDC, EDC), and tax credit programs (SR&ED) to identify every dollar of public funding your business may be entitled to. We rank opportunities by effort-to-value ratio and create an actionable funding calendar.
Financial Modelling & Cash Flow Planning
We build or stress-test your financial model against Canadian market realities — realistic revenue assumptions for your sector, Canadian operating cost benchmarks, GST/HST cash flow timing, and scenario modelling for conservative, base, and optimistic growth trajectories. The output is a 24-month cash flow plan with clear funding gap identification.
Applications, Submissions & Ongoing Advisory
We prepare and submit all grant applications, loan packages, and SR&ED claims on your behalf. For investor readiness, we prepare your data room and pitch materials and facilitate introductions where appropriate. Ongoing advisory is available on a retainer basis, ensuring your financial strategy evolves as your Canadian business scales.
Solaris vs. Standard Canadian Financial Advisors
General-practice accounting firms serve domestic clients well but rarely have the cross-disciplinary expertise to combine grant identification, immigration-context financial planning, and investor readiness for a newcomer business entering Canada.
| Capability | General Accountant (CA) | Financial Advisor (Retail) | Solaris |
|---|---|---|---|
| Corporate bookkeeping & accounting setup |  | ✘ | (via CPA partner) |
| Government grant identification & application | Rarely | ✘ | Systematic |
| SR&ED claim preparation | Some CPAs only | ✘ | (via specialist partner) |
| BDC / EDC loan advisory | ✘ | ✘ | |
| Immigration-context financial planning | ✘ | ✘ | |
| Investor readiness & pitch support | ✘ | Limited | |
| Cash flow modelling for new entrants | (extra fee) | ✘ | Included |
| Full financial services coordination | ✘ (refers out) | ✘ | Single point |
What Our Clients Say
Financial Advisory — Common Questions
Financial Advisory Pricing
| Service | Starter Core deliverables | Professional Enhanced scope | Enterprise Full solution |
|---|---|---|---|
Bookkeeping & Accounting Setup  | From $800 | From $1,120 | From $1,904 |
| Tax Planning — Corporate, GST/HST | From $1,000 | From $1,400 | From $2,380 |
| Government Grant Identification | From $700 | From $980 | From $1,666 |
| Investor Readiness & Pitch Support | From $1,500 | From $2,100 | From $3,570 |
| Cash Flow Planning | From $800 | From $1,120 | From $1,904 |
| BDC / EDC / CEBA Loan Advisory | From $700 | From $980 | From $1,666 |
| SR&ED Tax Credit Advisory | From $1,200 | From $1,680 | From $2,856 |
Starter
Core setup and single-service advisory for businesses in early-stage operations. Ideal for sole operators and small corporations establishing their financial foundation in Canada for the first time.
Professional
Expanded scope with more detailed modelling, multi-program grant applications, and ongoing advisory support. Suited for growing businesses with employees, multiple revenue streams, or active funding pursuits.
Enterprise
Comprehensive financial advisory for complex business structures — multi-entity groups, active R&D programs, investor fundraising, or businesses requiring full financial management outsourcing.
Bundle Savings
Combine three or more Solaris service pillars and save 10–25% across your total investment. Financial Advisory pairs especially well with Business Plan Writing and Immigration & Business Setup for a complete market-entry package. Ask about bundle pricing →
Bookkeeping, Tax Planning, and SR&ED services are partner-delivered through CPA Canada-designated professionals. Solaris manages client coordination and project delivery; regulated financial work is performed by the licensed CPA partner.
Ready to Build a Financially Sound Canadian Business?
