STARTING A BUSINESS

Are you thinking of starting a business?

Begin by asking yourself the following questions:

What do I enjoy doing?
What kind of business would I like to own?
Is there a market for my product or service?
How will I operate my business?
- In person?
- E-commerce?
What type of business entity should I have (sole proprietor, corporation, partnership, or joint venture)?
- Can I operate as a sole proprietor?
- Should I incorporate?
  - Should I incorporate federally or provincially?
  - What would I like to name my corporation?
    - an automatically-generated numbered name or a name of my choice?
  - What kind of shares should my corporation issue?
  - To whom should I issue shares? (How many “owners” will there be?)
  - Who will be the directors and officers?
  - With which bank will I open my business bank accounts?
  - What will my fiscal year-end be?
  - Who will be my corporate accountant?
  - Should I have a shareholder agreement?
- Should I enter into a partnership agreement?
- Should I enter into a joint venture agreement?
  - This may be applicable if your goal is to develop a specific project with another party, as opposed to a long-term business.
Should I register a business/trade name with which to operate and advertise my business?
- This is required for sole proprietors who plan to use a name other than their own name and for corporations that plan to use a name other than their legal corporation name.

CONTACT US WITH ANY QUESTIONS ABOUT STARTING YOUR BUSINESS.