Company Creating
Experience the thrill of creating your business with us, where creativity becomes reality. We help with vital tasks like choosing a name, establishing your company, and registering for necessary numbers. Our services, akin to accounting firms, offer personalized assistance and competitive fees. Registration is usually done on the same day, and we also manage tasks like audits and changes after establishment.
Establishing a company is the first crucial step in entrepreneurship. Depending on the industry, choosing a concise and memorable company name with brand value is essential. This name should represent the company’s image and ensure no conflicts with registered company or brand names. Avoiding names similar to others helps solidify the uniqueness of the brand, enhancing future marketing effectiveness.
Additionally, an ideal company name should have an available domain for registration, ensuring consistency in website development and marketing, and improving recognition on search engines.
Choosing Your Business Structure: A Crucial Decision
When starting a business, your choice of legal structure is vital. It influences taxation, fundraising, personal liability, and more. Consult with us before finalizing your decision. Explore the pros and cons of the main business structures to make your new business official.
01. Corporation
If you want to protect your personal assets, expect your business to grow over time, or you plan to raise money, a corporation may be the ideal choice. Corporations are separate legal entities, which means your personal assets and the corporation’s assets are separate. It’s set up formally with a certain number of shares (which you determine). You and others are then allocated a percentage of these shares, which indicates the ownership structure of the corporation. You can get a salary (and maybe a dividend) from a corporation.
Pros
- Personal assets and corporate assets are separate, protecting you personally from the company’s debt
- A corporation can live on if you leave or sell the business
- Portions of the company can be sold to raise money
- Provides credibility and it’s easier to secure financing
- Additional expertise and insight from shareholders
Cons
- Regulated, with corporate records required
- Possible conflict between shareholders and directors
02. Sole proprietorship
If you want a simple and straightforward business structure, consider a sole proprietorship. You will own 100% of the business and can choose to operate under your own name, register a business name—or both. This structure is the easiest to set up.
Pros
- Freedom to make all the business decisions
- Low cost and easy to form
- All profits earned belong to you
- Can deduct losses/expenses from personal income
- Can evolve into a partnership or corporation later
Cons
- All the responsibilites and decisions fall on you
- Unlimited liability—personal assets must be used to pay off business debts
- Some investors require a business to be incorporated before lending money
03. Partnership
Have someone in mind you’d like to work with? Or maybe you’re great at your craft but need help running the business? That’s where a partnership comes in. It’s a type of business structure where you and one or more partners share responsibility and make business decisions together.
Pros
- Partners bring unique skillsets and support
- Fairly inexpensive to form
- Profits and assets are shared among partners
- If the business loses money, each partner can claim a share of the loss on their individual tax returns
- Can evolve into a corporation later
Cons
- Finding the right partner can be difficult
- Each partner is financially responsible for the other partner’s business decisions
- Unlimited liability—personal assets must be used to pay off business debts
- Potential for conflict between partners
04. Co-operative
A co-operative (also called a co-op) is a unique structure controlled by an association of members. The primary goal of a co-operative is typically to meet members’ common needs—not maximize profits. Often used by non-profits, it’s not a common way to structure a business, but it can work well if a group of individuals or businesses wants to pool resources.
Pros
- Limited liability, the same as a corporation
- Profits are distributed among the members
- Democratically controlled
Cons
- All members have equal control, which means making decisions can be time-consuming
05. Corporation maintainence Services
We assist with formalities for changes in established corporations, including
- Corporation name change
- Article change
- Corporation location updates
- Shareholder information changes (name, address, ownership percentage, etc.)
- Corporation revival
- Corporation dissolution
- Annual Return
- Obtain Company Profile
