From Small Business BC
Before registering your business, you should consider the different options available to you. From a legal point of view, there are three common types of business structure: Sole Proprietorship, Partnership, and Corporation. Each structure has different and important implications for liability, taxation, and succession. What are the advantages for your business of incorporating a company versus registering a partnership or a sole proprietorship?
SBBC provides an overview of each business structure, including each of their advantages and disadvantages.