This is arguably one of the most important steps, as this decision can determine how you raise capital, how your business profits are taxed, the level of personal liability you’ll have for obligations to the business, and the amount of paperwork your business is required to do.
There are three common structures you’ll most likely consider: sole proprietorships, partnerships, and corporations. In addition, other legal forms include limited partnerships, limited liability partnerships, and unlimited liability corporations. Each legal structure is distinct and carries its own advantages and disadvantages. It’s recommended that you seek guidance from your legal advisor when deciding which legal structure is right for your business.
Get the Guide
To learn more about important considerations and information on starting a business in BC, download our in-depth guide.
More topics for start-ups to consider:
The Necessary First Steps
There are many necessary initial steps to take in order to successfully start or continue operations