The first stage involves developing a clear business idea, conducting market research, and creating a comprehensive business plan that outlines your company's goals, target market, competition analysis, and financial projections.

In this stage, you need to decide on the legal structure of your company (such as sole proprietorship, partnership, corporation, etc.). You'll also need to choose a unique and available business name and register it with the appropriate provincial or territorial authorities.

If you're opting for a corporation, this stage involves incorporating your company by submitting the necessary documents to the federal or provincial government. For other business structures, you'll need to complete the registration process as per the requirements of your chosen structure.

Depending on your business type and location, you might need various permits, licenses, or registrations to operate legally. This stage involves identifying the specific permits required for your industry and ensuring you comply with all regulations.

Once legally established, you'll need to set up your business finances, including opening a business bank account, obtaining financing if necessary, and setting up accounting and bookkeeping systems. Additionally, you'll need to secure a physical location if applicable, hire employees, and start operations.

Remember that these stages might vary slightly depending on the province or territory in Canada where you're starting your company, so it's important to research and follow the specific requirements of your location.