Please note: The information in this article is specific to Canadian companies!
When setting up a studio, one of the first – and maybe scariest – decisions you’ll make is choosing the right business structure. This structure will affect your studio’s governance, funding options, and growth potential. Remember that project-based funders rarely care about your studio’s structure or sustainability. We’ve seen them push for hurried incorporation to facilitate their funding. Before you jump to incorporate, consider your studio’s long-term goals, where you might seek funding, and the impact you want to make in the world.
If you’ve already incorporated or worry about needing to before you’ve had the time to think through all of the possibilities and implications, approach this as if you have lots of time and have not made any irreversible decisions yet.
Of course, the requirements of the big government funders in Canada may influence your decision, but it should not be the only input, and we want you to have a complete picture of your options.
Weird Ghosts believes indie studios should establish their companies in alignment with their social purpose – instead of being driven by project funding, aka the “old normal” that leaves no room for new founders to create a solid foundation.