Choose a Business Structure

Questions that will help you decide.
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When making a decision about which business structure to use, answering the following questions should help you narrow down which entity is right for you:

  • How many owners will your company have, and what will their roles be?
  • Are you concerned about the tax consequences of your business?
  • Do you want to consider having employees become owners in the company?
  • Can you deal with added costs that come with selecting a complicated business structure?
  • How much paperwork are you prepared to deal with?
  • Do you want to make all the decisions in the company?
  • Are you planning to go public?
  • Do you want to protect your personal resources from debts or other claims against your company?
  • Are family succession issues a concern?

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need