Adam Bata presents the pros & cons of entrepreneurs incorporating in Chronicle Herald article
Corporate lawyer Adam Bata, Halifax, sat down with James Risdon from the Chronicle Herald recently to discuss what comes along with starting up a sole proprietorship or incorporating for entrepreneurs.
Within the interview, Adam outlines some points for entrepreneurs to consider when thinking about incorporation. He states that those who are trying out a new idea may want to be independent, and set up a sole proprietorship. While there are positives to this route, such as low costs to register as a business and fewer tax issues, having sole proprietorship means no protection for personal liability. In addition, Adam notes that receiving money or other such support from companies and potential investors can be harder in a sole proprietorship – “people start to think of incorporation when they want to get investors or start looking at major expansion.”
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