What is a corporate minute book and why you need one?

A corporate minute book operates as the official record of your corporation’s activities. Any and all corporate transactions that involve your corporation should be documented in this book. Below are some documents that must be included:

• Articles of incorporation

• Corporation by-laws

• Registers of directors, officers, and shareholders’

• Resolutions of the directors and officers

• Notices and registrations filed with the registry

• Share certificates

• Meeting minutes

• Shareholders’ agreement

Benefits of Incorporation for Canadian Businesses: Everything You Need to Know

Benefits of incorporation for small businesses in Canada:

- Liability shield

- Tax savings

- Lifetime capital gains exemption

- Selling Flexibility

What are the benefits of incorporation in Canada?

If you own a small business in Canada, here are four reasons why you may want to incorporate: liability shield, tax savings, lifetime capital gains exemption, and selling flexibility.

Liability Shield

If your business is not incorporated, then you’re a sole proprietor, meaning that you and your business are one and the same. Anything that happens to the business also happens to you personally, and vice versa. Your personal assets - your home, car, savings - are on the line.