Business Structures Part 2- Factors to Consider From the SBA

According to Small Business Administration projections, nearly 672,000 new companies with employees were created in 2005. That is the biggest business birthrate in U.S. history: 30,000 more startups than in 2004, and 12% more than at the height of dot-com hysteria in 1996.

Choosing the right business structure for your new business can play a big part in shaping your success.
The choice you make can have an impact on multiple aspects of your business, including taxes, liability, ownership succession, and others.

Here are some factors that must be considered when choosing the best form of business ownership or structure:

Forms Of Ownership
The pros and cons of different types of ownership, including sole proprietorship, partnering, corporations, and limited liability companies.

Basic Structures
Brief descriptions of common business ownership structures.

Special Structures
Some structures are only available in some states.

Business Structures
If one of your employees causes an accident, can an injured person sue you and take your house, car, or savings account? Are you paying more taxes than you should on your business income? These are important questions that many small business owners ignore, yet the answers depend on the business’ legal structure.

• ← Chamber Seeking Nominees for Community Service Award
• February SCORE® Workshops- Business Startup Series →