Structure from the start
Starting a business requires structure and discipline. When a new business owner or entrepreneur does not create a clear plan for their business, they are making another one of the most common startup mistakes that can lead to small businesses or startups failing. Registering an LLC for your business can help you stay focused by providing a structure to build upon. When taking the time to keep up your LLC or corporation, such as holding board meetings, or reviewing your business’s documentation, you can check in on your Business Plan. If or when you need to adapt, you can update your Business Plan strategically to achieve your goals.
While there is a cost to register an LLC, it’s better to do so at the very start in order to get all the benefits from the beginning and secure the foundation to build up your business. Also, if something goes wrong, a registered LLC or corporation can protect the business owners. When a business is registered and run as an LLC or corporation, its liability is limited to what the business owns.
A foundation to build upon
While limiting the personal liability of the business owners is often the most appealing aspect of registering an LLC or corporation, there are other advantages too. Running a business as an LLC or corporation makes it easier to grow, take on investors or partners, or to sell your business and all your business’s assets in a single transaction.
When small businesses register as an LLC or corporation, the business can begin establishing its own reputation, credit history, and acquiring assets. Hiring employees also becomes easier. It also makes it simpler to keep your personal finances and taxes separate from your business.
Ways Rocket Lawyer can help:
Register your business.
Whether you’re starting something new or transitioning a side hustle into a full time business, when you register your business, you’re not just telling the world that your business is responsible, you’re also protecting your personal assets as the owner. With a Rocket Legal+ membership, your first business registration filing is FREE (excluding state fees).
Talk to a Legal Pro.
For startups, entrepreneurs, and small business owners, access to a Legal Pro, especially to answer your questions as they come up, can help with decision-making. The right advice at the early stages is critical to long term success. When you have legal or tax questions, reaching out to a Rocket Legal Pro™ is an easy and reliable way to get affordable legal advice.
Everything legal all in one place.
Putting together the right team and support network is important for business owners. From HR documents to sales contracts, help with a new name and logo, and even Pro Services for business registration, tax filing, and securing your trademark, Rocket Lawyer has everything legal all in one place so anyone can protect and run their business like a pro.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.
