Knowledge is power and, when it comes to your business, the more knowledgeable you are, the more benefits you may be able to take advantage of. Incorporations in Canada can benefit from both tax breaks and asset security. The best way to grow your businesses and protect it is through Incorporation.
Incorporated businesses are a separate entity from the individual, which means the incorporation has its own liability risk, separate from the individual who set it up. So, in a worst-case scenario, you would not be personally liable where debts are concerned. Through incorporation, you are also able to write off any health care insurance or life insurance that you provide to staff members.
When approaching a bank for a loan, you may also find that banks are more receptive to loan requests from incorporations than from sole proprietorships.
Let Ontario Business Central be your trusted partner in completing your Canada Incorporation. If you have any questions, please feel free to contact us.
If we can be of assistance, or if you have any questions about this service, please feel free to reach out to our staff for any clarification or assistance you may require.
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Ontario Business Central Inc. is not a law firm and cannot provide a legal opinion or advice. This information is to assist you in understanding the requirements of registration within the chosen jurisdiction. It is always recommended, when you have legal or accounting questions that you speak to a qualified professional.