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What type of business structure should I use?

This is a discussion on What type of business structure should I use? within the Business Entities forums, part of the Starting your business category; I want to start a multimedia business, but I am not sure what the best structure would be for me. ...


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Old 06-30-2008, 08:55 AM
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Default What type of business structure should I use?

I want to start a multimedia business, but I am not sure what the best structure would be for me. It would be just myself starting out, no partners, or anyone else involved. I will have freelancers working for me occassionally, but no employees starting out. I don't want it to be a public company. I don't want it to have any effect on my personal assets. Anyone have any suggestions?
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Old 07-25-2008, 07:05 PM
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Default Re: What type of business structure should I use?

I assume you are in the United States. Obviously each country has its own types of entities.

Since you want to limit your liability, you definitely want to have either a corporation or LLC, not a sole proprietorship. There is no single answer as to what entity is "best". In Illinois, for example, it costs much more to set up a limited liability company than a corporation. That is a disadvantage. In other states, the fees for filing the entities are often the same, so cost is neither an advantage or disadvantage.

Under many circumstances I recommend an LLC, though there are some disadvantages of an LLC as well as the LLC's advantages.

You can get free information about forming an LLC on a website I created to help explain what they are and how they are used.
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Old 08-15-2008, 07:58 AM
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Arrow Re: What type of business structure should I use?

your thought are correct ,but dont forget to make your self a business plan and targets of sales.
this will help you to know if your business is runing ok.
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