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Business Registration
Thinking of owning your own business?

Opening your own business is exciting and thrilling. We help you avoid the common pitfalls that many new small business owners make when starting their new business enterprise. We can help you to...
  • Prepare an initial business plan to clarify your marketing, management, and financial plans
  • Determine your start-up capital needs
  • Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  • Select the right accounting software by evaluating your budget & needs.
  • Establish billing and collection procedures to maximize your cash flow.
  • Establish procedures to monitor and control costs.
  • Set up company books, records and government filings.
  • Provide payroll tax filing when you bring on your first employee.


Let us help you succeed by getting your new business off to a good strong start!

 

PROS

CONS

Proprietorship

  • Easy to start
  • Low start-up costs
  • Low regulations
  • Owner controls decision making
  • All profits to owners
  • Tax advantages
  • Minimal working capital
  • Unlimited liability
  • Difficulty in raising capital
  • Higher taxation rates with higher income
  • Lack of continuity
  • Business reliance on self
  • May be difficult to sell

Partnership

  • Easy to start
  • Low start-up costs
  • Additional sources of capital
  • Tax advantages
  • Limited regulation
  • Broader management base and complimentary talents
  • Unlimited liability
  • Difficulty in raising capital
  • Divided authority
  • Suitable partners may not be available
  • Conflicts between partners
  • Partners can legally bind each other
  • Lack of continuity
  • Profits are smaller per share

Corporation

  • Limited liability
  • Possible tax advantage
  • Ownership is transferable
  • Continuous existence
  • Specialized management
  • Separate legal entity
  • Easier to raise capital
  • Capital gains exemptions
  • More expensive to set up
  • Closely regulated
  • Extensive record keeping
  • Dividend taxation
  • Shareholder liability
  • Personal guarantees can
    undermine limited liabilities

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