Ep 119: Is an LLC the right choice for you?



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About this Episode:


There are a lot of options when it comes to deciding how you want to legally structure your business. At one point in time, I was down a heavy social entrepreneurship path with my former blog Mellow Maverick. I was considering all sorts of legal structures including the increasingly popular B corporation. If that sounds foreign to you, it's important to know that there are various options outside of LLC that might be a better fit for you. Nine times out of 10, the LLC is perfect and suits your needs. I'll talk about what I'm choosing to go with, and what other options exist for you that you may not have considered.


I also used to think that the first thing I needed to do was grab my LLC. That was the first official sign and act as a business owner. I executed this very thing, with my first business, Arllou Catering and Events. But, I later realized, why get an LLC when you haven't yet figured out your business model and made sure you had a product you could sell! It just makes sense. So we'll dig into determining when the timing is right to cement your legal structure.


Summary:


In this episode, you'll learn...

  • What are the alternative business structures outside of the LLC?

  • How long can you go without a corporate entity structure?

  • What should be the factors to consider when making your legal structure choice?


Quotables:



Check Out:


SBA: 3 Factors to Consider

https://www.sba.gov/blog/choosing-right-business-structure-three-factors-consider


What are B-Corps and L3C's

https://www.cpapracticeadvisor.com/small-business/news/12393875/what-are-bcorporations-and-l3cs


Legal Zoom| Setup your business' legal structure




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