Having grown up watching my father and uncles run their construction business, I had an early exposure to the world of entrepreneurs. As a result, I have always enjoyed the freedom and challenge of having and running my own business as well. There was a time when starting a company was no easy task. The process usually involved a lawyer, took much longer and was far more expensive. You can still hire a lawyer to setup your business for you today, but luckily for us, there are online services that can take care of everything in a lot less time.
There has been much fuss made in the business world lately, around the advantages in forming a “Limited Liability Company” (LLC) for small to medium businesses. I for one started out in the tough-but-rewarding world of entrepreneurs as a sole proprietor of a small gardening blog that eventually scaled up. In the process of scaling up I came across a lot of information, from speaking with friends who were also entrepreneurs about the benefits of forming a LLC.
Whether you’ve just recently started out as an entrepreneur or have been in your business for over a decade, you have at some point had a vision of what sort of structure you wanted your company to be. In the case of many small businesses, owners tend to be sole proprietors in which they and their business is one and the same.