How to Start Things in Prince Edward Island

A trade name registration costs $75 and runs for three years

If you run a sole proprietorship or partnership under a name other than your own, PEI calls it a business name and you must register it with the Corporate and Business Names Registry under the Partnership Act. You pay $75 to file the declaration and $75 to renew it, per the Partnership Act Fees Regulations. The registration runs on a three-year cycle, so mark your renewal date or the registration can be cancelled.

Source: PEI Partnership Act Fees Regulations (PDF)

Minimum wage is $17.30, heading to $17.60 next April

Prince Edward Island's minimum wage rose from $17.00 to $17.30 an hour on October 1, 2026, and is scheduled to rise again to $17.60 on April 1, 2027. The rate is the highest in Atlantic Canada, and there is no separate lower rate for students or servers. Unlike some provinces it is not indexed to inflation; the Employment Standards Board reviews it each year and recommends future rates to government.

Source: Government of PEI: Minimum wage set to increase

PEI kept its 15% HST while Nova Scotia cut to 14%

PEI still charges 15% HST in 2026: the standard Atlantic rate, made up of 5% federal and 10% provincial portions. Nova Scotia cut its HST to 14% in 2025, so a business on the Island now collects a point more tax than a Halifax competitor. The gap with Nova Scotia is new and worth knowing when you price against Mainland rivals.

Source: Government of PEI: Retail Sales Tax

WCB coverage renews every year, with a February 28 deadline

Most PEI businesses that employ even one worker must carry Workers Compensation Board coverage. Each year you renew, you report your estimated payroll for the current year and your actual payroll for the previous year. Miss the February 28 deadline and the WCB can charge an arbitrary assessment set at the previous year's payroll plus 25%, along with interest and penalties.

Source: WCB of PEI: Employer Registration FAQ