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