Turning your small business into a corporation can seem like a daunting task, but it does not need to be overwhelming. There are some hoops and some paperwork required to incorporate, but all companies have achieved them before and so can you! Here are a few things required from businesses who want to undergo incorporation:
- Comply: To incorporate, you must make sure your company complies with the licensing and zoning laws.
- Name Search: You must create a unique name for your business. If you apply with a province, then your name is protected within that province. Two businesses can have the same name within the country, but not within where they are registered.
- Application: An application must then be sent to decide if your company name is acceptable. From there the higher ups will give your company the go-signal in getting incorporated.
- Documentation: There are many documents involved in becoming a corporation. You need to gather and prepare all the proper paperwork involved in becoming a corporation, as well as the paperwork you must fill out yourself.
- Documentation: This is the difficult part but made easy by a 3rd party organization. You can hire a company, for a relatively low fee, to do the incorporation paperwork for you. This is not only a huge time saver, but also a money saver because of all the hassle that you are being saved from.
While there is much more involved in the process of incorporation, this is a basic outline for it. There is a lot of paperwork involved in incorporating but hiring someone to help you with it can make the process easier for you.