LLC or Sole Proprietor: What to Open for Your Business
Liability, taxes, partners, and reputation: these are the four questions that decide the choice between a sole proprietorship and an LLC.
A sole proprietorship is simpler and cheaper to run: less paperwork, and you handle the money however you like. But you're personally on the hook for the business's debts, with everything you own. An LLC caps that risk at the charter capital and looks more solid to partners and tender committees, though it comes with full bookkeeping.
Here's a practical rule of thumb. Starting out solo with low risk, a sole proprietorship usually fits better. Once partners, hired staff, or contracts with legal entities enter the picture, take a closer look at an LLC. We can register either one for you, turnkey.