Compare Your Options
Different business structures come with different legal and tax benefits for entrepreneurs.
|
Incorporation |
Sole Proprietorship |
| Limited personal liability |
✓ |
✗ |
| Operate under a business name |
✓ |
✓ |
| Lower corporation tax rate |
✓ |
✗ |
| Business name protection |
✓ |
✗ |
| Have multiple owners |
✓ |
✗ |
| Simple tax structure |
✗ |
✓ |
| Obtain GST/HST number |
✓ |
✓ |
| Hire employees |
✓ |
✗ |
| Raise money & qualify for popular tax and grant programs |
✓ |
✗ |
| Open a business bank account |
✓ |
✓ |
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Select
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Select
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