Is a Sole Proprietorship Right for You? What to Know About this Business Structure [Video]

Starting a business is an exciting venture filled with dreams, ambitions—and a seemingly endless to-do list. From fine-tuning your product or service to building a brand and attracting customers, it’s easy to get swept up in the whirlwind of launching your organisation and neglect some of the basics, such as figuring out payment processes or getting insurance.

Your business structure might be one of those foundational elements that’s easy to overlook. But, it shouldn’t be an afterthought, given that it can significantly impact your journey.

For many Canadian small business owners, a sole proprietorship offers a straightforward path that combines simplicity with control, making it an appealing option worth considering as you embark on your entrepreneurial adventure.

What is a Sole Proprietorship?

A sole proprietorship is the simplest and most common form of business structure in Canada. Put simply, it’s an organisation owned and operated by a single individual who is responsible for all aspects …