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Register or incorporate
Find out which type of business structure works best for you.
Sole proprietorship
This type of business is owned by one person who calls all the shots - and that's you!
Sole proprietorship in a nutshell:
  • You make all the decisions
  • Personal tax credits
  • All the profits are yours
  • Simple tax structure and benefits
  • Business lifespan is the same as the owner’s
  • You are personally responsible for all the business' financial and legal liabilities
  • You are responsible for protecting your business name
Incorporation
This type of business is a separate legal entity from its owner and it can be owned by one or more people.
Incorporation in a nutshell:
  • Since corporations are separate legal entities, owners are not personally liable for the businesses financial and legal liabilities
  • Decisions are made by the corporation's directors (you and any others named as directors)
  • Business has an unlimited life span
  • Easier to grow your company and raise money
  • Potential to qualify for certain small business tax deductions and other tax benefits (get more information from your accountant)
  • Limited business name protection (Named only)
Not sure which type of company fits with your business?
Disclaimer: Ownr can help you register your business as a sole proprietorship or incorporate. Consider contacting a lawyer, accountant, or other relevant professional for advice about how to structure your business. Learn more