What are the most common business structures or entities? The most common business structures are sole proprietorship, partnership, limited liability company (LLC), and a few different types of corporations—the standard corporation (often called a C corporation or “C corp”), the small business corporation (often called an S corporation or “S corp”), and the benefit corporation (often called a B corporation or “B corp”).
Why does your choice of business structure matter? The choice you make about what type of business structure is appropriate for your company will affect how much you pay in taxes, the level of risk or liability to your personal assets (your house, your personal savings), and even your ability to raise money from angel investors or venture capitalists.
So, the structure you choose is very important.
This guide will explain the basics of common business structures, but we can’t tell you exactly which structure you should choose—if you need that kind of advice, you should consult a lawyer or an accountant.
What you will get from this e-book 1.How to separate yourself from your business 2.How to create a structure for the business 3.How to pay your staff 4.How to design your organization chart 5.How to assign task to your staff
The ease that technology has offered us to do business anywhere, anytime and to anyone in the world is breath-taking.
The internet revolution coupled with cheap smart phones, tablets and personal computers have changed how life and business activities are being conducted globally. Online marketing coupled with online payment has made business easy and more global.
Recent statistics told us that 5 billion people around the world have access to the internet.
The Internet is converging the world and
giving every individual the opportunity to compete globally with just your smartphone and internet connection.
It is giving every individual great power that can threaten large conglomerate.
We are now in an age where you don’t need huge capital to start or run a business that will reach the
whole world. With your smartphone connected to the internet you can reach anyone across the earth to sell your products or services and receive your money locally without necessarily having to leave the comfort of your home.
It will be a disservice for you not to participate in this new revolution.
The presence of technology and the forth industrial revolution is changing businesses and society in everyday life.
The industrial revolution brought about development in areas such as transportation and electrification and mechanized agriculture that has redefine wealth and economic status. Countries and individuals who partook in this revolution lead others who were slow to partake or did not see their involvement as relevant.
Now, a new economics is defining the space. Technologies through the internet is giving everyone access to the global market at a click of the a bottom on your smartphone. Capitalizing on this as an individual or corporate body is what will make you stand out in the future.
It is in your best interest to actively engage and have the courage to adopt this new technologies now.