Laura Harvey stands as a beacon of entrepreneurial support and expertise, embodying the spirit and drive of the community she serves. As the proud owner of Ontario Business Central Inc., Laura's journey is one of dedication, passion, and an unwavering commitment to nurturing the entrepreneurial landscape in Canada.

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Incorporation also provides other benefits, such as easier access to capital, greater flexibility in ownership and management, and enhanced credibility with customers, vendors, and partners. Additionally, a corporation can continue to exist even if the owners or shareholders change.

The information Ontario Business Central provides is solely to be used as an informative guide. We do not offer legal or accounting advice.You may wish to obtain either legal or accounting advice prior to proceeding with the Sole Proprietorship Registration

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Ultimately, the decision to incorporate a business should be based on a careful analysis of the business’s goals, needs, and financial situation, and should be made with the guidance of legal and financial professionals.

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No, you do not necessarily need a lot of capital to incorporate a business in Canada. The amount of capital required to incorporate a business in Canada depends on the province or territory where the business is being incorporated.  In many cases, the minimum amount of capital required to incorporate a business is nominal, such as $1 or $2. This means that it is possible to incorporate a business in Canada with very little capital investment.

With over three decades of experience as a corporate specialist coupled with over 25 years of entrepreneurial ventures, Laura brings a wealth of knowledge and insight to her role. Her expertise is not just theoretical; it's built on the real-life challenges and triumphs of navigating the business world. This unique blend of professional and personal experience positions Laura as a relatable and trusted guide for those embarking on their entrepreneurial journey.

Additionally, while incorporating a business can provide a number of benefits, it may not be the best choice for every business. Other options for business ownership include sole proprietorships, partnerships, and cooperatives, each of which has its own advantages and disadvantages.

Beyond her role at Ontario Business Central, Laura has extended her outreach through the innovative YouTube series "Taking the Leap." This platform allows her to connect with new business owners, offering them a stage to share their stories and insights. "Taking the Leap" is more than just a series; it's a community where aspiring entrepreneurs can find inspiration, learn from the experiences of others, and gain practical advice on crucial corporate tasks like registering a business, updating business information, understanding tax account intricacies, and much more.

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Laura's contributions extend into the digital world through her in-depth blogs for Ontario Business Central. Here, she delves into topics essential for entrepreneurs and business owners looking to start, manage, and grow their ventures. Her writing is a reflection of her passion for supporting entrepreneurial advancement and a testament to her deep understanding of the corporate sphere.

Laura Harvey is not just an entrepreneur; she's a mentor, guide, and fellow traveler on the path of business ownership. She embodies the ethos of "walking the walk," providing both the tools and the encouragement for others to thrive in their entrepreneurial endeavors. Whether through her written words, her YouTube series, or her hands-on approach at Ontario Business Central Inc., Laura is dedicated to uplifting and assisting new and established business owners alike.

Shareholders typically have the right to vote on important matters related to the corporation, such as the election of the board of directors, major business decisions, and the distribution of profits. They may also attend shareholder meetings and receive regular updates and reports on the corporation’s performance.  This is under a one class of share structure.  You can include a second class of share for the corporation where these shareholders do not have voting rights and therefore may not partake in decisions for the corporation.

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However, it’s important to keep in mind that there may be other costs associated with incorporating a business, such as legal and administrative fees, and ongoing compliance and reporting requirements. These costs can vary depending on the province or territory, and other factors such as a separate tax filing with the Canada Revenue Agency.

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A corporation is a type of business entity that is separate from its owners, known as shareholders. A corporation has its own legal identity, which means it can enter into contracts, sue and be sued, and pay taxes. A corporation is typically managed by a board of directors, who are elected by the shareholders. Shareholders are typically only liable for the amount of their investment in the company, and their personal assets are not at risk.

Incorporation is a common choice for businesses in a range of industries, including technology, finance, real estate, and professional services. However, the decision to incorporate depends on a variety of factors, including the size and structure of the business, the industry it operates in, and the goals of the business owners.

Shareholders are individuals, organizations or other entities that own shares in a corporation. When a business is incorporated, it is divided into a certain number of shares, which are then sold to investors. Each share represents a portion of ownership in the corporation, and shareholders are entitled to a portion of the corporation’s profits based on the number of shares they own.

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One of the benefits of having shareholders is that it allows corporations to raise capital by selling shares to investors. This can provide a significant source of funding for the corporation’s growth and expansion. Additionally, because shareholders are typically only liable for the amount of their investment in the corporation, incorporating the business can help protect their personal assets from business debts and lawsuits.

If you’re starting a business or looking to restructure an existing one, you may have come across the terms “incorporated” and “corporation.” While they may sound similar, there are important differences between the two. In this article, we’ll explore the differences between incorporated vs corporation and help you determine which one is right for your business.

Incorporation is the process of forming a corporation. When you incorporate your business, you create a separate legal entity that can own property, enter into contracts, and conduct business. By incorporating, you can limit your personal liability and protect your personal assets from business debts and lawsuits.

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It’s important to note that the type of corporation you choose will depend on your business goals and needs, and the regulations may vary by province or territory. It’s always recommended to seek the advice of a legal professional when deciding on the type of corporation for your business.

According to Statistics Canada, as of December 2019, approximately 1.2 million corporations were registered in Canada. Of these, about 90% were small businesses with fewer than 100 employees.  Many entrepreneurs choose to incorporate their businesses to take advantage of the legal protections and tax benefits that come with this form of business ownership.

It’s important to note that the responsibilities and rights of shareholders can vary depending on the share structure and the laws and regulations in the jurisdiction where it is incorporated.