Why We Finally Incorporated - And Why You Should Too (With Ownr)
- Apr 26
- 4 min read
Written by Julian Golden, Co-Founder at Pier Five
We built Pier Five part-time for five years, hosting events, producing content, building community programs and partnerships, all while keeping our day jobs, splitting responsibilities, and telling ourselves we'd "figure out the business structure later."
Well, it’s 2026 and “later” finally came.
The moment we went full-time in January, incorporating stopped being something we’d get around to and went to the top of the to-do list. We always thought this was going to be a brutal task, but to our surprise, it turned out to be very easy once we found Ownr.
This article covers why incorporating matters, how to do it hassle-free with Ownr and some of our biggest learnings to make your experience even more seamless. It’s the write-up we wish someone had handed us two years ago. Enjoy!
What Is Incorporation And Why Does It Matter for Founders?
Incorporation is the process of registering your business and creating a distinct legal entity, separate from you as an individual. Once incorporated, your business can own assets, sign contracts, take on liability, and operate as a recognized legal structure in Canada.
For a lot of early-stage founders, this feels like something that belongs to "later" - once you're bigger, more funded, more legit. We thought the same thing, but we were wrong. Here's why incorporation matters earlier than most people think:
1. It protects you personally. Without incorporation, you and your business are legally the same thing. If something goes wrong, like a contract dispute or a liability claim, it can follow you home. Incorporation creates a legal wall between the business and your personal assets. Your house, your savings, your personal finances stay separate.
2. You'll pay less tax. As a sole proprietor (which is what we were for 5 years), business revenue flows straight into your personal income and gets taxed at your personal rate which could be anywhere from 30-55%. Once incorporated, your business is taxed at the corporate rate, which is significantly lower in Canada, usually between 9-23%. If you're generating real revenue, the tax savings alone can justify the cost of incorporating within the first year.
3. Bigger contracts require it. As Pier Five started landing larger partnerships, we ran into this directly. Enterprise clients and institutional partners want to contract with a business entity, not an individual. Incorporation gives your business a legal identity that serious partners expect.
4. You're building something that should last. If your vision includes future investors, additional team members, or eventual shareholders, your structure needs to reflect that from the start. Getting incorporated sets that foundation.
Why We Kept Putting It Off
Honestly? It felt overwhelming. We imagined lawyers, back-and-forth emails, confusing paperwork, and a bill we couldn't afford. So we kept deferring it until we had no more excuses.
The real cost of waiting wasn't the paperwork. It was running a real business without the structure that should have been underneath it.
When we found Ownr, we realized none of those fears were actually true.
How We Incorporated With Ownr in About 30 Minutes
Ownr is an online incorporation platform built specifically for Canadian entrepreneurs. No lawyers. No back and forth. No hidden fees. You put in your details, make your decisions, and Ownr handles the rest.
Here's what the process actually involved:
Step 1: Register Your Business Name
The first step is confirming or registering your business name as part of your corporation. Ownr walks you through this clearly without the guesswork on format or jurisdiction.
Step 2: Assign Roles
Every corporation in Canada requires at least one director, one officer, and one shareholder. For us, I’m CEO and my Co-Founder, Jeff, is CMO. We're equal shareholders and both serve as directors and officers. We'd been running it that way informally for years. Incorporating just made it official and legally defined.
Ownr prompts you through each role so you understand what you're assigning and why. It's the kind of context that would normally cost you an hour with a lawyer.
Step 3: Decide on Your Share Structure
This is the one that catches most founders off guard. How many shares do you issue? The answer isn't "as few as possible". It's "enough to give yourself room to grow."
We landed on 100,000 shares. That might sound like a lot, but it gives us flexibility to bring on shareholders, issue equity, or make changes down the line without running out of runway. Ownr makes it easy to understand why this decision matters and gives you room to manage it as your business evolves.
Step 4: Sign, File, and You're Done
Once your structure is set, Ownr handles the filing. You'll also receive a minute book, which is a legally required record of your corporation's key documents, and guidance on any post-incorporation steps you need to take. Everything in one place. The whole process took us about 30 minutes. We're not exaggerating.
3 Major Learnings
It’s never too early to think about incorporation. If you're generating consistent revenue, signing contracts more frequently, building a team, or planning to grow, incorporation protects you legally, reduces your tax burden, and gives your business the credibility it needs to scale. These are valuable considerations at all stages of your business.There is no threshold you need to hit for all that to be valuable.
Your structure should reflect your vision, not just your current size. Think about where you want to be in three years, not just where you are today. The decisions you make at incorporation — share structure, roles, jurisdiction — are easier to get right upfront than to change later.
Affordable doesn't mean cutting corners. We were braced for a significant bill. Ownr is genuinely affordable, especially compared to the cost of a traditional lawyer, and it's built specifically for Canadian founders, so the guidance is relevant and accurate.
The Honest Takeaway
We spent five years building Pier Five without the proper foundation underneath it. Not because we were reckless but because the process felt like something we needed to tackle with a lot of money, time, and legal expertise–all of which were things we didn’t have.
Ownr removed every one of those barriers. It's online, it's fast, it's affordable, and it actually explains what you're doing as you do it. For any Canadian founder who's been putting this off, there's no reason to wait any longer.
Julian Golden and Jeff Lei are the co-founders of Pier Five, Canada's leading community for creative entrepreneurs and small business owners. Follow along at @pier.five.
