ventures

Which Business Entity is Right for You?

By RedMaven ⋅ Email This Post Email This Post ⋅ Post a comment

OK, so you want to start a business, but you’re not sure about what business entity you should operate your business under. Do not worry, not being sure is a good sign that you know there are pros and cons for each business entity choice. Lets review your options:

* Sole Proprietorship - full control and you get all the profits
* General Partner - management and profits shared between partners
* Limited Partnership - general and limited partners share control and profits according to the partnership agreement
* Corporation (Sub C or Sub S) - there are shareholders with ownership rights, elected board of directors, and officers who handle business operations
* Limited Liability Company- members share profits and management based on the operating agreement

All of that information briefly deals with only how profits and the operations or management of the business is handled legally. Who you want to control your business to me is the first step to making your decision on which business entity to choose.

So if you are a person who believes that no one can do it better then you can, then a sole proprietorship might be for you. But not so fast, there are other things you should consider before making that choice. You will need to also consider the liability, taxes, and administration factors. I will not go too in depth because one this would be a ridiculously long post, and two I would suggest you to consult with a legal attorney who specializes in creating new businesses. But, for those of you who are already pretty sure on what business entity you should file your business under, and you do not have the time to set it up we have, “Business in a Box.” For more information on Business in a Box please contact Maven IG via email, mavenig@gmail.com.

Below is a link to a pdf. file from the GA state government website that give a further in depth overview of each business entity and their pros and cons.

http://sos.georgia.gov/corporations/legal_entity.pdf

Posted on March 21, 2009
Print This PostTags: , , ,

FavoriteLoadingAdd to favorites

Discussion

No comments for “Which Business Entity is Right for You?”

Post a comment

Custom Search


MoneyIsJustAnIdea and Maven Investment Group, LLC. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

2008 Maven Investment Group, LLC. All Rights Reserved.