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Corporation, sole proprietorship or partnership

Expert: Michael Fromstein

Dave asked:

"I am aware that to register a business as a corporation is more complicated than as with partnerships and sole proprietorships, but how exactly? Also, concerning financial risks with corporations, is the entrepreneur personally liable for an outstanding startup bank loan should the business fail?"

Michael Fromstein answered:

ask-the-expert, incorporating, sole proprietorships, partnerships, Canadian business, business structures, Canada, small businesses, SOHOs, corporations, home-based businesses, organizations, companies, financial risk, entrepreneurs, exposure

About the author

Michael Fromstein is a tax specialist with Integrated Professional Specialist Services.

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