Starting a business is an exciting adventure. There are, however, many things to do and think about beyond the type of business you wish to start.  LES Financial Services can walk you through all aspects of starting your own business from deciding whether to incorporate or operate as a proprietorship to obtain financing. We will help you perform all of the necessary tasks of starting, so you can focus on growing and making a go of your business.

Sole Proprietorship, Partnership, Corporation, Joint Venture, Non-Profit Organization -Each type of entity is treated differently for tax purposes. Therefore, it’s advisable to engage a tax professional such as LES Financial Services to ensure you’re operating in the most effective structure. No one choice suits every business.

Some of the tasks and considerations of starting your own business include:

• Decide whether to incorporate, operate as a proprietorship, or partnership.
• Business plan development.
• Determine the level of financing needed.
• Apply for a loan or credit facility.
• Find a lawyer.
• Set up a Canada Revenue Agency business number.
• Open a payroll account with CRA.
• Set up in house bookkeeping and payroll methods.
• Obtain insurance coverage.
• Obtain a business license.
• Decide whether you should take a salary or dividends.
• Tax advice on your individual tax position

The list goes on...

Contact us today by email at ls@lesfs.ca or Call us at (416) 705-4870 to for more information about our services.