Ontario Sole Proprietorship
A sole proprietorship in Ontario is the simplest and most common form of business ownership. It is an unincorporated business owned and operated by one individual. This structure is ideal for small businesses or individuals starting out, as it is straightforward and cost-effective to set up.
Key Features of an Ontario Sole Proprietorship:
Ownership: The business is owned and controlled by one person.
Simplicity: It is easy to establish and requires minimal paperwork compared to other business structures.
Taxation: Business income is reported as part of the owner’s personal income, simplifying tax filing.
Alberta Sole Proprietorship
A sole proprietorship in Ontario is the simplest and most common form of business ownership. It is an unincorporated business owned and operated by one individual. This structure is ideal for small businesses or individuals starting out, as it is straightforward and cost-effective to set up.
Key Features of an Ontario Sole Proprietorship:
Ownership: The business is owned and controlled by one person.
Simplicity: It is easy to establish and requires minimal paperwork compared to other business structures.
Taxation: Business income is reported as part of the owner’s personal income, simplifying tax filing.
Operating name/ DBA/ Trade Name
A trade name, or operating name, is the name under which you conduct your business.Trade Name is also known as DBA (Doing Business As) or Operating name under a corporation.
We also offer expedited service for Ontario and Alberta Trade Name registration and it can be registered as fast in 2hrs.
General Partnership
A General Partnership is a business arrangement where two or more individuals or entities collaborate to run a business. This partnership structure emphasizes shared responsibility in managing operations, dividing profits, and addressing liabilities. Unlike corporations, a general partnership is not a separate legal entity.
Partners share equal rights in decision-making but also assume unlimited personal liability for debts. Establishing a written partnership agreement is highly recommended to define roles and profit-sharing terms clearly.
