Sole Proprietary or LLC? Which should you choose?

Although it is true that each has its own characteristics, advantages, and disadvantages, it is important that you get good advice so that you can know how to start the business of your dreams. Prote-G is the expert in charge who will introduce you to this topic:

A sole proprietorship is a business that is owned and operated by a single person, this makes it simpler and does not require a lot of paperwork. As a sole proprietor, there is no separation between your personal and business assets and expenses. You are personally responsible for all your company's debts and obligations. A limited liability company (LLC) can be formed by an individual or a group of businesspeople. An LLC requires paperwork and upfront costs, but it could provide your business with long-term benefits that make the investment worthwhile. Once formed, an LLC has its own legal identity separate from you, the owner. Because of this, no one can legally go after your personal assets if your company is sued or unable to pay its debts. Furthermore, something to keep in mind is that the bankruptcy of an LLC is considered independent of that of the owner.

Now that you know a little more about Sole Proprietary and LLCs, what are you waiting for to start your own business? Prote-G and its team of experts will be with you along the way.

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