My friend and I going to start a new Salon business. I have 8 years inexperience in hair styling and spa. Our idea is to start a hair style and spa salon. My specialty is in hair styling and cosmetic whereas he is well experienced in spa massage. If everything falls right, we will be able to open the salon in the spring next year.
As I was reading about the registration procedures, I came across a blog about Questions to ask before starting a business. https://www.ontariobusinesscentral.ca/blog/questions-to-ask-the-experts-before-starting-a-business/ It says about the benefits of incorporation. Our initial plan was to start the business in General partnership. Though the licensing is costly for incorporation, the tax returns to pay would be less.
We are in confusion here.I would like to get some suggestions from experts here. Would it be better to incorporate the Salon as an LLC company?
Thank you!
As I was reading about the registration procedures, I came across a blog about Questions to ask before starting a business. https://www.ontariobusinesscentral.ca/blog/questions-to-ask-the-experts-before-starting-a-business/ It says about the benefits of incorporation. Our initial plan was to start the business in General partnership. Though the licensing is costly for incorporation, the tax returns to pay would be less.
We are in confusion here.I would like to get some suggestions from experts here. Would it be better to incorporate the Salon as an LLC company?
Thank you!
