EI while starting new corporation?
Hi there,
Quick question. With my current job (which I plan on keeping), I often work 6-9 months then will be laid off 3-6 months(sometimes longer). I am interested in incorporating an online side business. The problem is I will not be able to pull any money out of this business for at least the first year, possibly more, as I want to reinvest all profits into the business. From my understanding, I can not collect EI if I own my own business. Is there any work around for this? I want to be able to collect EI while I am laid off from my full time job until I can start pulling money out of this business.
Thanks!
Quick question. With my current job (which I plan on keeping), I often work 6-9 months then will be laid off 3-6 months(sometimes longer). I am interested in incorporating an online side business. The problem is I will not be able to pull any money out of this business for at least the first year, possibly more, as I want to reinvest all profits into the business. From my understanding, I can not collect EI if I own my own business. Is there any work around for this? I want to be able to collect EI while I am laid off from my full time job until I can start pulling money out of this business.
Thanks!
