___________________________________________________________________________________________________________
One of the most important decisions, you will make is choosing the right business structure. The structure you select will depend on how you plan to operate—whether you’re going solo, teaming up with partners, or building a team of employees. There are four main types of business structures to consider:
- Sole Proprietorship
- Partnership
- Corporation
- Cooperative
Selecting the right business structure is a crucial first step that lays the groundwork for your long-term success. Once you have determined the type of business you want to start, we will guide you through the essential steps to officially establish it in Canada. These steps include:
- Verifying the availability of your desired business name;
- Registering the business name with the appropriate authorities
- Applying for a Harmonized Sales Tax (HST) number;
- Setting up a Payroll Account if you plan to hire employees;
- Applying for an Import/Export Account if you intend to conduct international trade;
- Registering for a WSIB (Workplace Safety and Insurance Board) account, which is mandatory if you employ staff;
We also offer support with:
- Budgeting & Business Planning
- Cash-flow Projection
- Break-even Analysis
MHS Tax Services 