Business Registrations Burlington - New Business Registrations Mississauga

Business Start-ups & Incorporation of companies:

- Register your business name.
- Complete incorporation on your behalf or provide you with full incorporation kit.

Determine what will happen to your current business losses and future profits. Determine what business assets and goodwill to transfer to the corporation. Choose a fiscal year end or calendar year end and when to incorporate. Develop a mix of salary, dividends and bonuses to be paid to yourself and others. Set up company books, records and government filings. Facilitate management decisions towards a successful business.
	Pros	Cons
Proprietorship	Easy to start Low start-up costs Low regulations Owner controls decision making All profits to owners Tax advantages Minimal working capital Business losses can be claimed on	Unlimited liability Difficulty in raising capital Higher taxation rates with higher income Lack of continuity Business reliance on self May be difficult to sell
Partnership	Easy to start Low start-up costs Additional sources of capital Tax advantages Limited regulation Broader management base and complimentary talents	Unlimited liability Difficulty in raising capital Divided authority Suitable partners may not be available Conflicts between partners Partners can legally bind each other Lack of continuity Profits are smaller per share
Corporation	Limited liability Possible tax advantage Ownership is transferable Continuous existence Specialized management Separate legal entity Easier to raise capital Capital gains exemptions	More expensive to set up Closely regulated Extensive record keeping Dividend taxation Shareholder liability Personal guarantees can undermine limited liabilities