What is a sole proprietorship
A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between the business and you, the owner. You are entitled to all profits and are responsible for all your business’s debts, losses and liabilities.
Individuals wishing to operate as sole proprietors in Canada are required under Provincial Business Names and Partnership Act to register their business name by filing a Statement of Registration of Business/Trade Name with the Corporate Registries Office of their jurisdiction.
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