British Columbia Innovation Council

Did You Know

  • One of the most utilized assistance programs in Canada for helping entrepreneurs develop prototypes is NRC-IRAP. This is a good place to start. Read more

Startup Structure

There are three basic types of business structures:

  • Sole proprietorship: a business operated by an individual under their name or a business name
  • Partnership: a business operated by two or more individuals
  • Corporation: a separate and distinct legal entity from its owners

Each business structure has different legal and tax implications that should be considered when building your business. Consultation with a lawyer or tax accountant will help determine the business model best suited to your new company.

Resources

Incorporation

An incorporated business is a distinct legal entity separate from its shareholders (owners). Businesses can be incorporated at the provincial, federal and/or international level. Learn More