https://cjcpa.ca/blog/corporation-vs-sole-proprietorship-what-is-best-for-your-business-in-canada/You might be a new entrepreneur or have been running your small business for quite some time. Whatever the case… deciding whether you should incorporate your business in Canada or stay as a sole proprietor can be difficult. After reading this blog, we suggest you discuss it further with a Chartered professional accountant. Of course, running a small business as a sole proprietor in Canada seems lucrative because it is easy to set up, requires minimum experience, and there isn’t much paperwork involved. Also, the proprietor will be in full control of the business. On the other hand, despite being complex, incorporating a business in Canada has benefits in taxation, enjoys limited liability, and is often seen as more credible than a business which isn’t incorporated. To help you make an informed decision and choose the right accounting services, we’ve listed the benefits and differences between sole proprietorship vs. corporation in great detail. Don’t forget to book your free consultation with a CPA in Surrey for incorporation-related inquiries at the end of this blog.
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