Browsing Tag

limited liability company

16 posts
incorporation
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Which Entity Should E-commerce Businesses Choose for Incorporation?

Should an e-commerce business file for incorporation? The short answer is yes. It is possible to run an e-commerce business as an unregistered entity. This is a default business formation known as a sole proprietorship. Entrepreneurs can start and run businesses structured as sole proprietorships particularly if the business is one with limited growth potential...
LLC or PLLC
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Should Entrepreneurs Incorporate as an LLC or PLLC?

Entrepreneurs who choose to incorporate as a limited liability company (LLC) may pause when they realize there is a secondary option available known as a professional LLC (PLLC). What is a PLLC? How does it differ from an LLC? Which is the best option to incorporate a business? Let’s explore the differences between the entities...
choosing a business structure
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4 Factors to Consider When Choosing a Business Structure

Structuring your business is one of the first—and most important—decisions you make in your entrepreneurial journey. Your business entity impacts everything from taxes to daily operations. But if you’re just starting out, you might not know what to look for in a business structure, and that’s OK. We have your cheat sheet right here.  StartupNation exclusive...
llc michigan
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How to Form an LLC in Michigan

Starting a business is an exciting journey. For many entrepreneurs, starting a business is their chance to take their product to market, to become part of their local communities and to start making income from their own ventures. Many entrepreneurs choose a limited liability company (LLC) as a preferred vehicle for that journey. An LLC...
business entity
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LLC or Corporation: Which Entity is Best For My Business?

Two of the most popular entity formations for business incorporation are limited liability companies (LLCs) and corporations. Both entities provide startup owners with certain benefits, and one of the biggest benefits is limited liability. This creates a separation between the assets of the business and the owner, and protects the owner’s personal assets in the...
business partner
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Starting a Business with a Partner? Here’s What You Need to Know

Opportunities to start a business can happen at any time, even during a pandemic. Amid COVID-19, many individuals spent their time in quarantine practicing a side hobby or developing a new offering that meets the needs of their target audience. As more people lean into entrepreneurship, some have decided not to go it alone. Instead,...
freelance
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10 Tools to Kickstart Your Freelance Operation

Making the decision to freelance is a big one. It requires some serious determination, entrepreneurial spirit and a whole lot more that you might not have initially considered. Things like tax forms, software and a workflow are essential to being a freelancer, yet secondary to your primary duty. Whether it’s writing, editing, animating or designing, we...
incorporate
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How to Become Incorporated and Why to Incorporate Your Business

On your small business journey, you will encounter many forks in the road. Choosing the right direction for your company as it matures may seem daunting at times. One of the “forks” you must consider is whether or not to move your business from its default sole proprietorship status to another type of legal entity....
foreign qualify
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How to Foreign Qualify Your Startup to Do Business in a Different State

What happens when a small business has incorporated in one state, but wants to obtain the authority to do business and conduct operations outside state lines? Generally, most small businesses must file an application to foreign qualify. A foreign qualification, if you’re unfamiliar with the term, allows businesses to legally do business in states outside...
LLC
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5 Reasons Why You Should Form an LLC for Your New Business

Many entrepreneurs initially start a business as a sole proprietorship instead of a limited liability company (LLC). Why do they pick this entity? Forming a sole proprietorship allows entrepreneurs to exercise total control of the business. It’s also affordable to form and getting started requires little paperwork. However, the drawback is that sole proprietorships do...
incorporate
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Which Entity Should You Incorporate Your E-Commerce Business As?

You’ve drafted a detailed business plan, identified your unique selling proposition (USP), and defined your business model. It’s almost time to launch your e-commerce business! Before you open your virtual doors and begin taking orders, however, you’ll need to structure your business by incorporating or forming an LLC formation. Why do businesses, whether they are...
legal
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Before Starting a Business in 2019, Tackle These 3 Legal Areas

Planning to start a business in 2019? Here's the good news: preparing now will help to put you and your new company on the right track to success. Great idea? Check. Detailed business plan that objectively measures where you’ll take the company in the short and long-term? Check. Plans to incorporate the business to legitimize...
corporations
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Corporations vs. LLCs: What’s the Difference When Structuring a Business?

When you are starting a business, the legal structure you choose for it is a critically important decision. It will affect things like the cost of operating the business, its taxes, the potential for you and any other owners of the business to be held financially liable for problems it may develop, as well as...
incorporating
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What is the Best Type of Business Entity for Your Home Based Business?

Solopreneurs of the world, unite! This year, FlexJobs released “The State of the Remote Job Marketplace” report that outlined what the current remote work industry and its workers looks like. Nearly four million workers, 3.9 million to be exact, in the United States spend half of their time working from home, totaling 2.9 percent of...
corporation
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Which is Right for Your Business? Forming an LLC or a Corporation

If you are an entrepreneur, you have probably had somewhere close to a hundred business ideas run through your mind. Maybe you’ve already taken the plunge to starting your own business and are looking for the next step. When establishing a business, there are plenty of hoops to jump through, one of which is the...