So What is Incorporation Anyway?

So What is Incorporation Anyway?

The topic comes up all the time. Are you incorporated? Are you going to incorporate? When is the right time to incorporate? But a large number of small business owners don’t know what incorporation actually means, or why they should or shouldn’t incorporate.

 

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What's the difference between Federal and Provincial Incorporation?

What's the difference between Federal and Provincial Incorporation?

Incorporation is the act of making your business a corporation and is one of several forms of business ownership you can have in Nova Scotia and across Canada. When you incorporate and separate the owners from the company itself, your company is considered a person under the law. It will have the ability to have its own money, take out a loan, sue or be sued, contract with other persons and even be convicted of crimes. There are two different ways you can incorporate, federally or provincially. There are advantages and disadvantages to both federal and provincial incorporation, and you need to consider the type of business you have now, and what you would like it to look like in the future in order to make the best choice for your company.

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