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Local Business Partners

Start Registering your Partnership by using the form on this page!

The excitement of starting a business can be overwhelming! Let our talented and experienced staff walk you through the process of registering your Partnership.

Want to learn more about Registering a Partnership before applying? Click Here Now!

Partnership Registration

Ready to begin, get started by filling out this form and submitting your information. Our experienced staff will review all of your information and be in touch within 1 – 2 business hours with any questions and to confirm registration details such as timing, pricing, and obtaining your payment information.

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Learn Partnership

Learning Centre: Partnernship

What is a Sole Partnership?

Similar to the simple process and lower costs involved in registering a Sole Proprietorship, a Partnership involves 2 or more business people going into business together. Many of the rules of the Sole Proprietorship still apply to this type of arrangement.

PROS OF PARTNERSHIPS

PRO #1

As partners, there is complete control over all aspects of the business. A partnership agreement (drafted by a lawyer) should be established to help outline responsibilities, percentage of ownership, revenue share and more of each partner.

PRO #4

Business assets are solely owned by the partners.

PRO #2

All of the profits from the business belong to the owners in the partnership.

PRO #5

Benefit of having multiple partners to pool financing and skill sets to help the business succeed.

PRO #3

Easy and inexpensive set up process.

CONS OF PARTNERSHIPS

CON #1

There is no separation between owners and business. Partners are the business.

CON #4

It could be more challenging in the event that the business is to be dissolved or potentially grown into a new direction.

CON #2

The partners are fully responsible for all liabilities, debts of the business.

CON #3

The partners are taxed as employed individuals based on all business profits. There are none of the tax benefits that exist with incorporated entities.

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