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Sole Proprietor in Canada. What you should know!
What does it mean to be a Sole Proprietor?
Starting and operating a business as a private individual has its benefits and drawbacks. While providing a simple and straight-forward business structure, which does not require any complicated registrations or administration, operating as a Sole Proprietor also exposes the business owner to personal liabilities for the operations of the business. It will also limit future growth and development of the business in many ways.
In this video we will overview the process of starting a business as a Sole Proprietor, registrations that are necessary or advised for business operations and an option of using a separate name for a business.
We will overview and summarize which types of business are fit for Sole Proprietorship to make the decision-making process as simple as possible.