There are many ways to structure a business. A Limited Liability Company is one of the most popular methods small businesses use, with other options including sole proprietorship, partnership and corporation. This blog previously discussed the basics of the four business structures, but starting a business is a complex process that requires thorough research to know what fits your needs.
The LLC is a hybrid business model that protects personal assets better than a partnership and allows for flexible income shares like a corporation. Most small businesses will consider an LLC, an S Corporation or a partnership model. LLC is popular because it’s to manage than other models, while giving more flexibility on how you operate.