One of the first decisions you have to make when you're starting a business is about what legal structure your new business will have. In Canada, you essentially have four choices, a sole proprietorship, partnership, corporation or cooperative. But which form of business ownership should you choose?
You need to give it some thought because the form of business ownership you choose will affect everything from the administrative costs of setting up and operating your business through your tax planning. Choosing a Form of Business Ownership lays out the advantages and disadvantages of each type of legal structure to help you decide.
If you are considering incorporation, you will also want to read Should You Incorporate Your Business?
Remember, though, that whatever form of business you choose, you are not locked into that form for the life of the business. Many people, for instance, start businesses as sole proprietorships and then incorporate them later when their circumstances change.
Once you've decided, registering your business is the next step. Visit the Business Registration section of this website to find details on how to register your business in your province.
Steps to Starting a Business in Canada presents all the steps to starting a new business with links to resources to help you get it done.
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