Considering a move from Sole Proprietor to LLC?
LLC vs. Sole Proprietor: Not even a Fair Fight!
I can think of lots of reasons that you might want to start an LLC if you are currently a Sole Proprietor. I think if I were to list the first three, they would be:
- Liability
- LIABILITY
- LIABILITY
Did I mention liability? In today’s very litigious society, I can’t imagine operating a business without every protection I could find. The risks to your personal assets have never been greater than they are today, so why wouldn’t you take advantage of everything that could help? Here is a good place to start: LLC vs Sole Proprietorship This article talks about Partnerships, as well.
Once you finish this article, I would recommend going to our Learning Center to compare entity types. This is one of the quickest ways to visualize the differences between business types.
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