Register a Sole Proprietorship

 

Sole Proprietorship is the most common form of business in Canada.

A business associated only with you is known as Sole Proprietorship, sometimes referred to as a Small Business, both the terms refer to the same business structure.

Advantages of Registering a Sole Proprietorship:

  
  • Easiest form of business to register
  • Sole Proprietorship business can begin operations without registration if you are operating it under your own name, without any additions.
  • A Sole Proprietorship form of business can be incorporated at a later stage because it is not necessary to have the same form of business for life.

Disadvantages of a sole proprietorship:

  • A sole proprietorship is an extension of yourself where you are personally responsible for all the liabilities and obligations of your business. Therefore in case of a business failure all your assets (including personal assets) can be seized to discharge your liabilities.
  • Sole Proprietorship, as a form of business, is not a legal entity. It is best thought of as a legally registered business alias under which you operate.

To register your Sole Proprietorship business, you will need to provide the name and address of the business, a description of the business activity that will be performed, and your name, home address and telephone. You must have a valid Ontario street address.

Here is what you get once your application is approved:

  • You will receive an Official Registration Certificate issued by Ontario government
  • This certificate will be valid for 5 years
  • If you apply for tax accounts (and you should), you will receive documentation directly from appropriate government departments that administer those accounts. We will also provide you with account numbers where applicable.

Our Business Registration Packages include a comprehensive list of services required to start a business in Ontario.

 

Learn More About Registering Your Business

 

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Register a Sole Proprietorship



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