As a brand new entrepreneur ready to face the world, you are going to find yourself going head-to-head with a lot of challenging decisions.
One of the most challenging question you’re going to face is whether you should start your business as a sole proprietorship or LLC…
This is a question I hear quite a LOT as a business lawyer.
It’s a hot topic because, and entrepreneur, like you, should get the right information to make the smart decision.
In summary, sole proprietorship is the simplest business entity, but it requires that you take personal responsibility for all business matters.
On the other hand, LLC protects your personal assets from business debts and lawsuits. What this means is that if something happens to your business then your personal assets such as personal bank account, car, and home will be protected.
The first thing successful entrepreneurs do is form an LLC and as a Business Lawyer for Entrepreneurs, I highly recommend having a registered LLC before you start your business.
If you’re still not sure about whether LLC is right for you,