MinuteBox: What are the Different Forms of Carrying on Business in Canada?

What are the Different Forms of Carrying on Business in Canada?

The seven most common forms of carrying on business in Canada are:

  1. Sole proprietorship;
  2. Partnership;
  3. Co-ownership;
  4. Corporations;
  5. Joint ventures;
  6. Franchises and licenses; and
  7. Not-for-profit organizations and charities.

Each of these forms of carrying on business has a whole set of different pros, cons and practical implications and consequences. Of the different forms of business organization, a corporation is the most common.