Starting a new business is an exciting step for many entrepreneurs and small business owners. One of the most important early decisions is choosing the right business structure.

Deciding when to incorporate your small business is an important step for many Canadian entrepreneurs. In Ontario, many businesses begin as a sole proprietorship, but as revenue grows and risks increase, owners often consider forming an incorporated business.

The 15-Day Rule requires that any change to a corporation's directors be filed with the appropriate corporate registry within 15 days after the change occurs. These updates can include appointments, resignations, or any changes to certain information of Board members, such as their addresses.

Maintaining an up-to-date minute book ensures that your corporation complies with legal obligations. By recording and safeguarding all relevant documentation, you protect your business from legal challenges arising from non-compliance.