Picking Your Business Structure, Business Owner’s Playbook website, New Business Money: Quick Summary (https://www.thehartford.com/business-playbook/picking-business-structure)
How to Choose the Best Legal Structure for Your Business, from Caramela, S.(2018) Business News Daily: Small Business Solutions and Inspiration
Responding the the following questions that a business owner might have:
- How does the type of business structure impact the way a business owner approaches to risk and liability?
- What must a business owner take into consideration in order to select the right business structure to maximize business growth and profitability?
Considerations include the following:
• What kind of liability protection does the business need?
• How are taxes paid?
• What are the financing needs and options?
• How much administrative complexity does the business need to deal with?