Also, if you have chosen to incorporate a federal business, you need to distribute an application enrolling the company with the province in which it is found.
The main advantage of incorporating is the limited liability that an incorporated firm enjoys. The business owner of a sole propriety takes on all the liability of this company; although a shareholder's liability inside an incorporated business is only limited to the amount of his investment. A sole proprietor's personal belongings may be taken as a way to pay back any debt; but a shareholder of an incorporated company is not held accountable for your debts accrued, unless he/she has issued a personal promise. Moreover is the good thing about being able to increase collateral capital.
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