Entrepreneurs are looking for freedom and excitement
Starting a business is an exciting proposition, but also incredibly challenging
Decide which form of ownership is best for you:
A sole proprietorship is the most basic type of business to establish. You alone own the company and are responsible for its assets and liabilities.
Limited Liability Company
An LLC is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.
A corporation is more complex and generally suggested for larger, established companies with multiple employees.
An S corporation is similar to a C corporation but you are taxed only on the personal level.
There are several different types of partnerships, which depend on the nature of the arrangement and partner responsibility for the business.
If your passion is to inspire, make a difference and give back to the world, then starting a non-profit is an exciting entrepreneurial proposition. But before you start there are a few things to consider.