There are several legal structures that businesses can use, and there are advantages and disadvantages to each one.  The possible business structures are:

• Sole proprietorship
• Partnership
• Limited liability company (LLC)
• Corporation
• S-Corporation

The SCWBC can help you understand, in general, when the various structures are used.  However, both lawyers and accountants should be consulted to understand exactly how a particular structure could affect your specific business.  For example, some businesses inherently have more liability risks and must consider the protection a corporation offers in this respect.  Depending on the income of the business, a corporation could provide tax breaks, or it could cost more in fees and administrative overhead than it would be worth. These are just a couple of examples of why each business owner should consult with an attorney and accountant in order to choose the correct structure.  Your business coach can help you find an attorney and accountant who specialize in helping small business owners.

See the Frequently Asked Questions for information on where to register corporations.

Getting Started
If you are starting a new business, follow our proven four step plan
If you are expanding a business, request a consultation with a business coach.