Get your new business off the ground

With your business plan produk digital indonesia in hand and a clear idea of where your company is heading, you now have to determine what structure your business will take, decide on a name and choose where your business will be located.

Select a company structure

The first thing you’ll want to do is determine what business structure best meets your needs. The structure you choose will in large part depend on whether you are running the business by yourself or together with partners.

There are four different business structures in Canada.

1. Sole proprietorships

This is the simplest form a business can take. It offers relatively low start-up costs and few regulations. But be aware that you are personally responsible for all debts and obligations your business incurs.

2. Partnerships

In a partnership, each partner shares the profits and obligations of the business. This type of business structure requires a partners/shareholders agreement.

3. Corporations

A legal entity entailing more regulations, corporations have higher start-up costs. The advantage is that shareholders have limited responsibility for the debts and obligations of the company.

4. Co-operatives

A corporation controlled by its members.

Choose a business name

Choosing a name may prove more difficult than you’d expect. Your name must be accurate, catchy and, most importantly, available. Finding the right name can almost be a science—there are even companies who specialize in providing this service.