We continue to see a shift in Government and most new programs are requiring businesses to be incorporated. We strongly encourage operators to consider this option in the near future. Incorporating offers several advantages:
- Owners benefit from limited liability
- Ownership interests are easier to transfer
- The life of the corporation can extend beyond that of the founders
- Credibility is boosted in the eyes of partners
- Financing and grants are easier to access
- Tax rates are lower
Click on the button below to revisit the Adapt2020 Webinar on the different types of business structures, the pros and cons or each, and other considerations.
You can also choose to read more about the benefits of incorporation through this article posted by the Business Development Bank of Canada (BDC): https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/incorporating-business-key-advantages-entrepreneurs