Ownr Review Rating: 4.6
Registering or incorporating your business in Canada can be challenging considering the bunch of paperwork and legal procedures.
As a result, it’s easy to get stuck in the process and seek the help of a lawyer, which will cost you an average of $1,500.
With Ownr, you don’t have to worry about the stress and cost of registering/incorporating your business in Canada.
As trusted by over 50,000 businesses, Ownr is a cost-effective alternative to creating, managing, and growing your business without stress.
But what is Ownr? What are the pros and cons of Ownr? How can you register your business with Ownr? This Ownr review answers these questions and more.
What is Ownr?
Own is a Canada-only company that automates registering, incorporating, managing, and building businesses in Canada.
Established in 2017, Ownr is based in Toronto and is available only in Alberta, British Columbia and Ontario at the moment.
Recently, precisely in 2020, Ownr acquired Founded Technologies to expand its top-notch services to Canadian entrepreneurs.
Furthermore, Ownr partners with various organizations such as accounting firms, law firms, entrepreneurship centers, incubators, etc., to offer perks to its users.
As a result, Canadian entrepreneurs can access the all-round support they need to register/incorporate and manage their businesses cost-effectively.
Who Owns Ownr?
RBC Ventures Inc. owns Ownr. On the other hand, RBC Ventures is owned by the Royal Bank of Canada, one of the five big banks.
That said, Ownr is one out of the several ventures owned and managed by RBC Ventures. Other ventures include Ampli, Arrive, Dipp, Prepped, Wellspent, etc.
Through these establishments, RBC Ventures aims to simplify the business process of Canadian entrepreneurs using industry-leading technology.
How Does Ownr Work?
Ownr does the hard job of registering or incorporating your business in Canada. All you need is to secure a business name, provide your details and leave the rest for Ownr.
Depending on your company structure, Ownr has all the tools to make your business comply with federal and provincial laws.
Furthermore, Ownr helps you manage and grow your business, whether sole proprietorship or incorporation.
Is Ownr Legit?
Yes, Ownr is absolutely legit. Besides being a venture of one of Canada’s five big banks, Ownr has more than 50,000 registered businesses.
Also, Ownr is legit because of its partnership with a wide range of organizations such as accounting firms, law firms, entrepreneurship centers, and incubators in Canada.
Moreover, with advanced encryption that manages your information on its website, you have nothing to lose by registering or managing your business through Ownr.
Pros and Cons of Ownr
Here are some of the good and ugly sides of Ownr as of the time of writing this review:
Pros
- Tools: Ownr has all the tools you need to register/incorporate and build your business in line with federal and provincial laws in Canada.
- Perks: Choose from a series of perks to manage and build your business cost-effectively via Ownr.
- $300 Money Back: You can receive up to $300 money back after registering your Ownr account, which is more than the cost of opening a sole proprietorship account.
- Resources: Manage and build your business with relevant resources such as the comprehensive guide on starting and running a business in Canada.
Cons
- Limited Business Structures: Ownr only serves sole proprietorship and corporation businesses at the moment. People looking to run a partnership or cooperative business have to look elsewhere.
- Limited Coverage: As of the time of writing this review, Ownr is only available in three Canadian provinces: Ontario, Alberta, and British Columbia.
Ownr Range of Services
Here are two major products of the company as of the time of writing this Ownr review:
1. Incorporation
Ownr helps businesses incorporate their new or existing companies in line with federal and provincial laws.
So if you want to incorporate your business through Ownr, all you need is to search for an available business name, provide your details and make payment.
After that, Ownr will do all the hard job for you by submitting your application and sending your business document within one working day. This saves you the stress and cost of incorporating your business yourself or through a lawyer.
That said, the following are the key features of Ownr incorporation services:
- Incorporation & filings
- Registration or company name
- Company Organization Documents & Share Issuances
- Maximum of 3 User Accounts
However, if you’re looking for advanced incorporation solutions, Ownr offers managed corporation plan that includes:
- Basic incorporation features
- Unlimited company updates
- Government filings
- Permanent access to Ownr Legal Agreement Library
- Unlimited user accounts
- Unlimited support
2. Sole Proprietorship
If you’re looking to register your new or existing business under sole proprietorship, Ownr is your one-stop shop.
However, the process of registering sole proprietorship on Ownr is the same with incorporation. All you need is to search for an available business name, provide your details and make payment.
After that, Ownr will do all the leg-work for you and have your business registered within one business day.
That said, the following are the key features of Ownr sole proprietorship service:
- Unlimited business name searches
- Business registration documents
- Business registration number
- Storage of business document
- Chat support
- Ownr Perks
How Much Does Ownr Cost?
Ownr has a one-time fee for incorporation, managed incorporation, and sole proprietorship plans.
The following table shows the annual cost of Ownr which apply to Alberta, British Columbia, and Ontario:
| Business Structure | Cost |
| Incorporation | $499 + tax |
| Managed Corporation Plan | $599+ tax + $399 incorporation fee |
| Sole Proprietorship | $89 + tax |
Ownr Perks
Besides the $300 money back, Ownr also offers a series of perks through its partners, such as:
1. Vistaprint
Vistaprint offers 20% off your initial order using your unique Ownr code. This company offers custom marketing products that give your business a professional outlook.
2. TELUS Business
TELUS Business is your one-stop shop for telecommunications products and services. Through Ownr, you will get 10% monthly for activating or renewing your TELUS Business plan.
3. Heirlume
Get 20% off to protect your business trademark on Heirlume through Ownr. This is cost-effective, especially if you calculate the long-term cost of protecting your business trademark.
4. Xero
Stay on top of your business accounting with 3-month off on your Xero subscription. Xero is a reputable online accounting tool that helps you manage your business account in one place.
5. ShipStation
Get 60-day free shipping through your favorite means by registering or incorporating your business on Ownr.
6. eBay
Get a free 90-day eBay store as an Ownr user to showcase your products or services to over 180 million buyers online.
7. H&R Block
Ownr also saves you 20% on your small business or self-employed tax preparation fees on H&R and Block. That said, you can save up to $100 on your tax fees as an incorporated business owner.
Ownr Review: My 5-Star Rating
Here’s how I arrived at the 4.6/5 star rating of this Ownr review:
| Feature | Rating |
| Products | ***(3.8) |
| Coverage | ***(3.8) |
| Perks | ***** |
| Costs | **** |
| Customer Service | ***** |
| Accessibility | **** |
| Speed | ***** |
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- Products: Ownr has few products at the moment (sole proprietorship and incorporation), limiting others from using it.
- Coverage: Ownr is only available in Alberta, Ontario, and British Columbia at the moment. If you’re not residing in any of these provinces, you have to look elsewhere.
- Perks: Sole proprietorship and incorporated businesses can benefit from a wide range of discounts offered by Ownr partners.
- Costs: This is the cost-effective means of registering or incorporating a business in Canada compared to a lawyer’s fees.
- Customer service: Ownr has a friendly customer service team that responds promptly to inquiries.
- Accessibility: This company is easy to access by everyone that can operate a smartphone.
- Speed: It takes 15 minutes to register an Ownr account, and your application will be processed within one business day.
How to Register/Incorporate Your Business On Ownr?
First you need to visit the Ownr sign-up page to register or incorporate your business.
After visiting the sign-up page, follow these steps:
- Enter your country (Ownr is only available in Canada at the moment)
- Select your province (remember Ownr is only available in Alberta, Ontario, and British Columbia)
- Choose whether you’re registering a new business or onboarding an existing one.
- Choose your business structure (incorporation of sole proprietorship)
- Provide your company name (your company name must be unique, that’s, not used by anyone).
- Fill in your business details
- Provide your personal details
- Pay the required fee
After providing all the required information and making payment, Ownr will do the hard job of sending your application for processing.
Finally, you will have to wait for an email confirming your registration typically within one business day.
How Long Does Ownr Take to Register?
It takes 15 minutes to register your business on Ownr. However, your application will be processed and completed within one business day.
Frankly speaking, Ownr registration process is more speedy compared to DIY or using a lawyer.
How to Contact Ownr?
Ownr customer service team is available to respond to your questions or questions from Monday – Friday (9.00am – 5.00pm EST).
That said, you can contact Ownr customer service team through 1-800-766-6302 (phone), support@ownr.co (email), or the chat button on its website.
Based on experience, Ownr customer service team is friendly and responds to questions quickly. This justifies my 5/5 star Ownr customer service rating.
Should I Incorporate or Sole Proprietorship?
It depends on your resources and your choice. Most businesses start as sole proprietorships before upgrading to incorporations. This is because it’s easy to start with a low budget.
However, as a sole proprietor, you are liable for all the risks associated with your business, unlike incorporation, where risks are shared.
On the other hand, you enjoy all your business profits as a sole proprietor while you share your profit with your partners under incorporation.
Incorporating a business is risk-saving, but it can be complex compared to a sole proprietorship. As a result, you can start as a sole proprietorship and upgrade later when your business grows.
Thus, incorporation could be your ideal option if you’re looking to limit your liability and make your business transcend your lifetime.
Overall, your choice of incorporation vs. sole proprietorship should reflect your budget, choice, experience, and business objective.
That said, the following table highlights the key differences between incorporation and sole proprietorship.
| Factor | Â Incorporation | Sole proprietorship |
| Liability | Limited | Unlimited |
| Business name protection | Yes | No |
| Tax structure | Complex | Simple |
| Tax and grant programs eligibility | Yes | No |
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Note: If you are still unsure which business structure is right for you, consult with a financial expert or lawyer.
Ownr vs. DIY vs. Lawyer
There are two major alternatives to using Ownr to register or incorporate your business in Canada: DIY and lawyer.
However, doing it yourself can be stressful and time-consuming since you need to research and follow the applicable business registration or incorporation laws.
As mentioned previously, you may get stuck in the process of Doing it Yourself and seek the help of a lawyer.
While a lawyer can save you the stress of registering or incorporating your business, you should be ready to spend an average of $1,500.
This is way more expensive than registering a sole proprietorship or incorporating a business on Ownr.
But remember, Ownr gives you $300 back when you open an account which is more than the cost of registering a sole proprietorship.
While Ownr is better than DIY and lawyer, I suggest you go with an option that suits your current situation.
Verdict on Ownr Review
At the beginning of this review, I stated that registering or incorporating a business in Canada can be challenging.
Why? The paperwork and legal procedures are time-consuming and costly, especially if you decide to Do it Yourself or seek the help of a lawyer.
But after comparing the different processes of registering or incorporating a business in Canada, you can see that Ownr is a cost-effective alternative.
Besides simplifying and automating the application process, Ownr is a low-cost means to register or incorporate your business in Canada.
As a result, my Ownr review is positive, time-consuming and I recommend it to everyone looking to register or incorporate their business in Canada.
If you’ve any questions or concerns about this Ownr review, let me know in the comment section.
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