(1.7) Choosing Your Business Structure

Assignment (1.7) Choosing Your Business Structure

One of the first and most important decisions you’ll have to make when forming your business is determining it’s structure – your future success may depend on it. Take the time now to weigh the benefits and drawbacks of each potential structure. Read though the following article SCORE: https://www.score.org/blog/sole-proprietor-vs-single-member-llc

If any of these business models looks great to you on paper than feel free to watch any of these videos to quickly find out a little more about them.

Sole Proprietorship

Partnership

Limited Liability Company (LLC) or Limited Liability Partnership (LLP)

C-Corporation (S-Corp)

S-Corporation (S-Corp)

1) Write a Short Essay (100 – 200 words) About Why You Chose Your Business Structure

What do you think the pros and cons are for you? Are you worried about liability? Do you want to keep it simple for tax purposes?