New Business Consulting

In order to carry on a trade or business, a type of business entity must be chosen. For all practical purposes, the four major business entities are sole proprietorship, partnership, corporation, and limited liability company.

The most efficient way of selecting a business entity revolves around trying to match the needs (present and future) of the business and its owners in legal, financial, and tax-related areas. In other words, this selection process becomes a form of a needs analysis study. In some cases, it is relatively easy; in fact the choice may be practically automatic. In other cases, it can be quite complex to coordinate the current and future needs of both the business and its owners.