The workplace disruption caused by the Covid-19 pandemic has forced many Canadians to look at new opportunities for employment and many are considering working for themselves.
This may be a side hustle or a full-fledged start-up business. The role of an entrepreneur is challenging but you are not alone. Small businesses are truly the heart of the Canadian economy.
Small businesses account for 97.9 per cent of all businesses with employees in Canada and are also the largest private sector employer, providing jobs for almost 70 per cent of the private sector labour force.
Before you get started, spend time considering the structure you want for your business.
There are three main ownership structures to consider for your business: sole proprietorship, partnership or corporation.
Which one is best for you right now?
Keep in mind you can always make a change later on.
Here is a brief overview of each structure to help you get started.
We will help you by providing a lifetime of solutions for both corporate and personal financial affairs.