Sole proprietorships are registered in Saskatchewan by filing a Registration of a Saskatchewan Business Name with the Saskatchewan registries office. Step 1: Choose a business name Although there are few restrictions on a business name, you should choose your name carefully. Business names: don’t have to be unique; duplicate business names may exist however, if […]
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RSS feed for this sectionHow to form a sole proprietorship
Sole Proprietorships are formed in Canada by filing a statement of sole proprietorship registration with the registry office of the desired jurisdiction of registration. The Registration Process Sole proprietorships are registered in Alberta by filing a Declaration of Trade Name with the Alberta registries office. Step 1: Choose a business name Although there are few […]
Cons of running a sole proprietorship
Liability If your business owes someone money, so do you. And if someone sues your business, they’re suing you personally. Other structures like corporations—act as a shield for this kind of liability. The sole prop doesn’t provide any kind of shield. Uncertain lifespan If a sole prop owner decides to go out of business, the […]
Pros of running your business in Canada as a sole proprietorship
Total ownership When you have a sole proprietorship, you’re the sole owner. While you’re liable for all the business’s debts, you’re also entitled to all its income. And when it’s time to make a business decision, you’re not legally required to check with shareholders or partners. Cheap and easy setup It costs zero dollars to […]
What is a sole proprietorship in Canada?
A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest kind of business structure. The owner of a sole proprietorship has sole responsibility for making decisions, receives all the profits, claims all losses, and does not have separate legal status from the business. If you are a sole […]
Retaining the Corporate Status of Your Saskatchewan Corporation
In order to retain the limited liability that your Saskatchewan corporation offers, you must follow certain corporate formalities involving decision making and the proper record keeping of your Saskatchewan Corporation records. In short, you’ve got to be organized. Retaining Corporate Status Saskatchewan Corporations and their owners must observe certain formalities to retain the corporation’s status […]
Saskatchewan Food and Beverage Processing
Energy Saskatchewan produces over one- third of Canada’s primary energy, and is one of the few places in the world that produces all of these types of energy: crude oil; natural gas; coal; uranium; biofuels; geothermal power; wind power; and hydro power . In 2017, the combined estimated value of oil and gas production was […]
Saskatchewan Food Ingredients Industry
Saskatchewan’s $4.3-billion food processing industry includes more than 300 processors and over 5,000 employees. A Large, Dynamic Industry Saskatchewan’s food and beverage industry produces about 19% of our province’s total manufacturing and processing output. Saskatchewan foods are set on dinner tables around the world: o Flour products and bakery mixes o Peas, lentils and […]
Saskatchewan Forestry Development
Saskatchewan is world-renowned as a consistent supplier of high-quality, safe agricultural products, including ingredients for a variety of foods such as cereals, beverages, baked products, snacks and bars. Major crops include cereals (spring and durum wheat, oats, barley and rye), oilseeds (canola and flax), pulses (peas, chickpeas and lentils), specialty crops (mustard seed, canary seed […]
Saskatchewan Key Economic Sectors
Forestry in Saskatchewan Socio-Economic Benefits Second largest industry in northern Saskatchewan. Forest products sales of over $1 billion annually and the sector supports nearly 8,000 jobs. Full development of the sector has the potential to generate over $2 billion in forest products sales annually and support nearly 12,000 jobs. Over 75% of primary forest products […]
