Whether you should operate your business as a corporation, partnership, sole proprietorship or cooperative depends on your particular situation and your particular needs. Among the factors to consider are the benefits of incorporating and the implications that incorporation can have for your business. If you decide to incorporate, you will then have to choose between […]
About companyformations
Other corporate obligations for new Canadian corporations
Appointing auditors At annual shareholders’ meetings, shareholders must, by ordinary resolution, appoint an auditor to audit the corporation’s financial statements. However, the shareholders of a non-distributing corporation can decide by a unanimous resolution (which includes voting and non-voting shares) not to appoint an auditor. Appointing an auditor increases the reliability of the financial statements and […]
Maintaining corporate records
Your canadian corporation must keep certain corporate records at its registered office (or at some other location in Canada, as set out by the directors). On request, a corporation’s shareholders and creditors can access the following records: articles of amendment, including amended articles of incorporation or restated articles of incorporation by-laws and their amendments any […]
Why Do You Need a Company Minute Book?
Whether you have organized your corporation in Ontario, British Columbia or any other province, your existence as a corporate entity begins with the filing of your organizational “Articles of Incorporation”. After this initial document is filed, the company can only act through its Board of Directors, usually initially appointed by the Sole Incorporator. Election of […]
What are “Minutes” and When Are They Produced?
At each Board meeting, one individual will be designated secretary of the meeting who will be responsible for preparing written notes (a.k.a. “minutes”) memorializing the discussions by the Board and setting forth any formal resolutions adopted at the meeting. These minutes will then be reviewed and approved by the Board at a subsequent meeting, signed […]
How Do You Maintain a Minute Book?
A well-organized Company Minute Book might be divided into the following sections, each containing the documents listed and with an accompanying index: Certificate of Incorporation: A copy of the Articles of Incorporation and all subsequent amendments as filed in the province of incorporation. Bylaws: Your Bylaws and any amendments. Board of Directors: If initial directors […]
What should be included in a business plan?
Although business plans can vary in length and scope, all successful business plans contain common elements. The following points should be included in any business plan: Executive summary (business description) Identifying your business opportunity Marketing and sales strategy of a business plan Your team Operations Financial forecasts of a business plan Other useful documentation The […]
What is a business plan and why do I need one?
A business plan is a written document that describes your business, its objectives, and strategies, the market you are targeting and your financial forecast. It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts. Preparing your […]
How to Define Your Target Market
To build a solid foundation for your business, you must first identify your typical customer and tailor your marketing pitch accordingly. Given the current state of the economy, having a well-defined target market is more important than ever. No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting […]
Creating a Marketing Plan for Your Canadian Small Business
Creating a Marketing Plan for Your Canadian Small Business. Creating a basic but well thought through marketing plan should be one of the first steps undertaken by a new business. Marketing is about more than just where to advertise, it is about understanding the internal and external forces that are going to contribute to the […]
