I'm Starting A Business, What Do I Need?

Embarking on the entrepreneurial journey in Canada is thrilling and starting a business right means understanding the different types of structures available and ins and outs of what they might require.

If you're wondering what it takes to start a business right, our business team has you covered.

What are the different type of business structures?

In Canada, there are several types of business structures that individuals and entities can choose from, each comes with its own advantages and disadvantages. The most common type of business structures are discussed briefly below:

1. Sole Proprietorship: this is often the chosen structure for small businesses starting out as it is the simplest form of entity and has little legal complexity. The main advantage of this structure is you retain full control and responsibility over all aspects of the business. Further, all the benefits flow through the individual and losses and expenses may be deducted from your