On Friday, Lara and I attended a free entrepreneurial workshop offered by the City. It was really helpful and I would recommend anyone thinking about starting a business attend one. We talked about the pros/cons of incorporating our business vs a general partnership, and decided that incorporating is the way we want to go. The only draw back, we learned on Friday, is that if you own more than 40% of a business you can't collect Employment Insurance, which means no maternity benefits for us. Too bad!
Did you know that if you own a homebased business and hire employees, only one person can be on site at a time? Did you know that you don't have to charge GST to your customers if you make less than $30,000, but the minute you make more than that you need to charge GST until the end of time? There are so many rules and regulations we are going to have to figure out, oy vey!
Both Lara and I are really excited to see our new logo... we're still waiting for Mike to send us his first draft. I have also been busy searching for Canadian companies that we can carry in our store. It's going to be tough narrowing down our selection because there are so many really great companies on the market, and lots of creative talent to choose from!
I'm finding that I'm really drawn to boys clothing, because of Joel, and I really need to start opening my eyes to more stuff for girls.
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I know how you can get around that 40% rule: just "gift" 20% of the business to me (I'll accept a small fee for doing that) and your problems will be solved. Ha! :)
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