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Old 03-01-2012, 01:28 PM   #1
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Any business owners on RS?

Anyone here a business owner, or personally know one? Specifically a corporation, or has had experience with incorporating.

If you're in here, shoot me a PM. I'd like to pick your brain. I've got a steakhouse dinner and all the beer you can drink waiting for you.
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Old 03-01-2012, 02:21 PM   #2
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I just recently incorporated my own company. Very easy process.
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Old 03-01-2012, 02:52 PM   #3
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Agreed. Steak and beer would be great but better to just spend that money on your incorporation documents. A lawyer can handle it for a few hundred bucks.

Start reading here: https://www.corporateonline.gov.bc.c...tml/index.html

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Old 03-01-2012, 03:04 PM   #4
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Agreed. Steak and beer would be great but better to just spend that money on your incorporation documents. A lawyer can handle it for a few hundred bucks.

Start reading here: https://www.corporateonline.gov.bc.c...tml/index.html

Mark
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Don't cheap out on the lawyer/consulting costs for this. They can help you with your annual filing and stuff. Not exactly sure what you're planning to do, but it saves you lots of grief by paying a couple hundred bucks for someone to deal with it.
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Old 03-01-2012, 03:36 PM   #5
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Thanks a lot, guys. Much appreciated.

The gist is, a friend and I have been making a solid second income for a while, re-branding and re-selling certain speciality products. It started out as a bit of an experimental market test, but volumes started steadily increasing. We figured it's time to do it properly before things started getting too out of hands.
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Old 03-01-2012, 03:48 PM   #6
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Thanks a lot, guys. Much appreciated.

The gist is, a friend and I have been making a solid second income for a while, re-branding and re-selling certain speciality products. It started out as a bit of an experimental market test, but volumes started steadily increasing. We figured it's time to do it properly before things started getting too out of hands.
You definitely need to get some type of legal advice. When you have more than 1 person involved, this paperwork is the least of your concerns.

I know you can get a lawyer or accountant to help you incorporate. Get everything crystal clear on paper because you don't know what happens in the future.
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Old 03-01-2012, 04:47 PM   #7
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Thanks a lot, guys. Much appreciated.

The gist is, a friend and I have been making a solid second income for a while, re-branding and re-selling certain speciality products. It started out as a bit of an experimental market test, but volumes started steadily increasing. We figured it's time to do it properly before things started getting too out of hands.
Incorporating is the least of your worries and is something that any competent adviser could do.

What you should be concerned with is your plan to grow. I can tell you right now that most growing small businesses fail not because they can't make enough sales, but because they don't know how to manage their cash properly.
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Old 03-01-2012, 05:16 PM   #8
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Incorporating is the least of your worries and is something that any competent adviser could do.

What you should be concerned with is your plan to grow. I can tell you right now that most growing small businesses fail not because they can't make enough sales, but because they don't know how to manage their cash properly.
Thanks..

I'm just looking into incorporation at the moment.

Marketing, sales, and management is a whole other story.
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Old 03-01-2012, 05:46 PM   #9
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Thanks..

I'm just looking into incorporation at the moment.

Marketing, sales, and management is a whole other story.
Get a Chartered Accountant and a lawyer to help you. If you are serious about this business, trusting a stranger off the internet who may have done something similar at some point in their lives is probably a bad idea.

If you have time for "shooting the shit" with strangers from the internet over beers, you have time to read and do your own homework. Educate yourself from the link provided by a poster above and then engage professionals (CA and a lawyer) to help you create the structure that will work for you long term.
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Old 03-01-2012, 05:58 PM   #10
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Thanks.

Im just wondering if anyone has had any first hand experience, regarding turnaround, referrals, off-the-records, whatever.

But yeah.. I'm not going to meet someone to "shoot the shit" over something that can be read online..
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