Master Business Licence

Definition

A Master Business Licence (MBL) is a type of business registration or licence required by some jurisdictions to legally operate a business within that jurisdiction. 

What is a Master Business Licence?

A Master Business Licence serves as a centralised registration for various business-related activities, such as incorporating a business, registering a business name, and obtaining certain permits or licences. Instead of getting separate registrations or licences for different business activities, businesses can apply for a Master Business Licence that covers these activities in one application process. The specific activities covered by a Master Business Licence vary depending on the jurisdiction. 

To get a Master Business Licence, businesses typically need to submit an application to the relevant government authority or agency responsible for business registrations and licensing. The application process may require providing information about the business, its ownership structure, its intended activities, and any specific permits or licences required for its operations.

There may be fees associated with applying for and obtaining a Master Business Licence, as well as renewal fees to maintain the licence. The fees vary depending on the jurisdiction and the type of business activities covered by the licence. 

A Master Business Licence grants legal status upon the business and serves as evidence of its registration and compliance with any laws and regulations. 

Example of a Master Business Licence

Let’s say Sarah wants to start a catering business in Ontario. She decides to register her business as a sole proprietorship and chooses the name “Savoury Delights Catering.”

Instead of applying for separate registrations for her business name, tax number, and municipal permits, Sarah decides to apply for a Master Business Licence. She submits her application online, providing information about her business, its name, location, and the nature of its activities. 

After processing her application,  Sarah receives a Master Business Licence, which allows her to legally operate Savoury Delights Catering in Ontario.