Your corporate advisor
Below we have listed some general information on some of the common services we provide to business in southern Alberta. Every situation is unique so we encourage you to reach out to us if you need more information or have an issue that is not listed below.
Transitioning ownership of a business can be an exciting and stressful time. It involves many moving parts and many considerations beyond just the selling price. Ensuring the deal is structured properly, that expectations and boundaries are clear, understanding the tax implications, and estate planning implications are just a few of the many considerations in this process. We take pride in addressing those, and many other, concerns to help facilitate the smooth and successful transition of a business. If you are involved in the transition of a business we would love to help you ensure everything goes smoothly.
North & Company works as part of a team, with your accountant, bank, insurance agent, and others to ensure your business succession and tax planning are as successful as possible. It can be a hairy process but doesn’t have to be. As advisors North & Company’s duty is to ensure you and your business understand the implications and outcomes of your decisions so you are in the best position for future success. It you are curious about your business’ tax planning or succession, reach out to us, having a legal advisor involved from the beginning helps identify and avoid unwanted surprises.
Running a business is never a straight forward task and you still need to ensure you are running it in a way that facilitates growth, minimises conflict, and keeps the business moving forward. Whether intentional or not, the actions of business owners, directors, and officers can be harmful to business. Good corporate governance helps the business navigate and address difficulties, poor corporate governance threatens the long term viability of the business. If you are curious how corporate governance can help your business succeed comes talk to our team of professionals.
A corporation is a legal entity which can limit liability, provide tax benefits, get better access to capital, be passed on to another, and is separate from the person. It also allows individuals to participate in the business in varying degrees; investors, voting and non-voting shareholders, employees, directors, board members, etc. A corporation provides flexibility so that your personal assets are protected, individuals can participate in varying degrees, and ownership can be transferred. If you are running a business or are thinking of starting one up you may want to consider incorporating. Come talk to us if you want to know more about the benefits and process of incorporation.
If you want to run a business that promotes art, science, religion, charity, or some other socially beneficial object, and does not have the goal of making a profit, you would likely set up a Non-Profit Organization. If you do not want to run a business but have a philanthropic, charitable, provident, scientific, artistic, educational, sporting, agricultural, or other socially beneficial goal you would likely set up a Society. They can each own property and assets, potentially exist forever, and limits liability for its members. These organizations can be as small as a handful of people operating out of a home and as big as Alberta Health Services. If you have a charitable dream, our team would love to assist in bringing your dream to life.
A private share placement allows you to raise capital for your company when conventional financing is unavailable. You can sell equity shares to one or more private investors. The equity shares ensures you maintain control or the organization but provides a powerful tool for raising capital necessary to expand, make necessary purchases, and more. If this sounds appropriate for your business, North & Company can help you develop this type of agreement.
When going into business with someone having clear expectations is important. A Unanimous Shareholders Agreement (USA) outlines shareholder rights, responsibilities, protections, and obligations. In the event of a conflict a well drafted USA ensures you have a way to solve the issue and protect the working relationship. Especially if you are going into business with family or loved ones a USA helps you handle disagreements that arise. When drafting a USA North & Company strives to give the business the best opportunity to survive and carry on into the future.