Franchising vs New Business: Which Direction Should You Take?
When entering into a new venture, you are presented with two options: join a pre-existing franchise chain establish a new business venture independently As a franchisee, you will be working with a pre-established business and will act as a distributor of that business under its trade
What Are Articles of Incorporation?
Annual Maintenance 101 – Requirements for BC Companies
The BC Business Corporations Act (BCA) requires all corporations to file an annual report as per s.51 with current information. By filing your annual report, you are informing the BC Registry that your company is in active standing. Failure to file an annual report after two
3 Benefits to Using a Law Firm as Your Registered and Records Office
Did you know that every incorporated company located in British Columbia is required to have a Registered and Records Office? As stated in s.34(1) of the BC Business Corporations Act, companies must maintain a Registered and Records Office address (mailing and delivery) as part of their
Top 7 Legal Considerations Before Buying a Franchise Business
Many believe buying a franchise presents an easier path to a successful and profitable business instead of starting your own company because you are purchasing an established brand with “turnkey” operations. It sounds enticing, but in reality, investing in a franchise involves a myriad of legal
Should I Incorporate a Named or Numbered Company?
Listen to this post In short, there is no legal difference between incorporating a named or numbered company. However, the difference lies in what you wish to do with the company. Incorporating a Named Company If your company deals with the general public and you plan
Should I Form a Holding Company For My Business?
According to the Key Small Business Statistics report by industry Canada, small businesses with 1-4 employees have a 60.5% survival rate and 5-19 employees have a 66.4 % survival rate in the first 5 years of operation. For those that continue to operate, part of their
Do I Reeeally Need a Shareholders’ Agreement?
Hello everyone, we’re going to have a quick chat with you about shareholders’ agreements. When we’re looking to start up a new business, a new corporation, and there’s more than one partner involved or more than one shareholder involved, it is incredibly important for you to
Dear Accountants, Please STOP Incorporating Companies
Hello everyone, this is a message for my fellow professionals, the Chartered Accountants of British Columbia. Specifically, those accountants who continue to incorporate companies on behalf of their clients, which is in breach of their code of professional conduct and is illegal to boot. Now I’ve