In Ontario, a business, particularly a corporation, is legally required to maintain a minute book as part of its corporate records. Here’s why you need one and how often it needs to be updated: Why You Need a Minute Book Legal Requirement: Under the Ontario Business Corporations Act (OBCA) and the Canada Business Corporations Act […]
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Navigating Change: Canadian Family Businesses Accelerate Succession Plans Amidst Economic Shifts A recent study by KPMG LLP in Canada reveals a significant trend among Canadian family business owners, with 79% fast-tracking succession plans due to evolving economic landscapes and internal family dynamics. The survey of 285 leaders from 700 small- and medium-sized family businesses indicates
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Securing commercial space used to be a prerequisite to operating a business. Covid 19 has further opened up the opportunity for working from home and starting a small business. We are sharing some guidelines on how you can do this and offer up some of the general restrictions on operating a business from your home.
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One of the most difficult challenges facing entrepreneurs is a claim filed under Human Rights legislation. Essentially, a claimant has the benefits of government-paid legal counsel without any economic exposure or downside. By stark contrast, to all other litigation or claims against anyone, (all of which involve a claimant underwriting his own case), the Social
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Brothers Charles and Henry embark on a business plan of buying and renting residential properties. The first is a family residence, with 2 tenants in the basement, but all of Charles’ and Henry’s families also occupy the property as a principal residence. Their Dad and Mom, their wives and their collective 4 children, a total
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We are approached frequently by budding entrepreneurs seeking to set up a business. Almost invariably, the issue of costs arises, equally frequently with limited funds. A substantial number of introductions involve “partners” joining forces to start a business. What to do? First, the usual default structure is to incorporate: Tax advantages; liability avoidance; limitations on
