Local entrepreneurs in Cochrane are invited to attend a March 14 presentation hosted by the Cochrane Business Network (CBN) featuring three guests who will discuss the ins and outs and the pros and cons of being a sole proprietor of a business versus being incorporated.
Bridgette Matshes, a partner at HBM Chartered Professional Accountants; Matt Kirk, a partner at Mabbot and Co.; and Ryan McKim, a senior manager at HBM Chartered Accountants will host guests at ATB Cochrane from 7:30 to 9 a.m.
McKim said the presentation will discuss the various business structures available to business owners, including sole proprietorships, corporations, and legal partnerships.
“We will look at the legal and tax implications of each of these structures from a start-up perspective as well as on-going maintenance and planning for each,” McKim said. “It will be a good conversation between accountants and lawyers on important items to consider.”
The presentation will also serve as an opportunity to network with other business owners and the presenters prior to the presentation, followed by a question-and-answer session.
For Cochrane and area residents looking to start a new business venture from scratch, buy an existing business, or take their business to the next level, McKim said the presentation will provide valuable information.
“If you are already running a business, you will get some useful reminders regarding insurance and you liability exposure,” he added.
McKim believes that all CBN meetings provide a great opportunity to network with fellow entrepreneurs and professionals in the Cochrane business community.
“This session will be a good opportunity to ask questions of local accountants and lawyers related to the topics being discussed,” he said.
As the population of Cochrane continues to grow in the coming years, McKim said that population increase will coincide with business growth opportunities.
Through the presentation, he said it can help new and existing business owners assess their ownership structure, in the present and future.
“We urge business owners to seek advice on accounting, tax, and legal matter proactively,” McKim said. “Oftentimes we are consulted after a corporation has been set up or a business has been purchased, and there could be additional costs to correct improper structure that could have been avoided by proactive planning.”
For anyone interested in attending the event, McKim asks them to RSVP by visiting cochranebusinessnetwork.com.
“The CBN provides a great venue to network with other local business owners as well as an opportunity to learn a thing or two from the presenters whose topics are always informative,” he said.
