Step Two: Business Structure

Starting a new business requires making many decisions. A business owner is, by default, a decision-maker. Fortunately, resources at the local, state and federal levels abound to assist you with decisions related to starting and running your new business.

Decision: Business Organization

Once you know the type of business you wish to operate, you will need to decide on its organization. Will it be a sole proprietorship, a partnership, a corporation, or a limited liability company? Perhaps these choices sound confusing, but once you understand the pros and cons of each, your decision should be easy to make.

The Different Types of Business Ownership

• Sole Proprietorship
• Partnerships
• Corporations
• Limited Liability Company

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Next: Sole Proprietorship >>>

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