Here is the wording from the detailed FAQ (emphasis mine):

Eligible Business: The Program is open only to businesses and not-for-profit organizations that are duly registered and doing business in Canada or have a Canadian-based office and do not have an existing corporate agreement with Air Canada.

As usual, AC is not clearly defining some of its terms. Not a lawyer, but IMO AC should accept either a GST/HST registration or a provincial registration certificate (in most/all provinces you can register a sole proprietorship).

I also stumbled accross this regarding enrolment:

What company information is needed to enroll?

The following is needed to complete the company enrollment form:

- Company name and Canadian address

- 2 company contacts; full names and company work email domain


So it appears you need a "work" e mail domain (not a @gmail.com, etc e mail) and if a proprietorship at least 1 "employee" as it requires 2 contacts.

Based on limited experience with the old program, I would not be that hopeful of any great benefit, although I believe some will be tempted by the extra points.