Monday, September 1, 2014

A Good Time to Organize Your Sole Proprietorship

As has been reported in the Wall Street Journal and elsewhere, the U.S. economy has grown considerably over the past quarter. The Gross Domestic Product has expanded at a rate of 4.2% and corporate profits rose 6% from the first quarter.

For those small business owners and entrepreneurs out there in the northern Shenandoah Valley who have experienced some of this growth, this may be a good time to consider investing in more protection for your enterprise. Many small business owners operate as sole proprietors- the business and the owner are basically one and the same- but this leaves you and your family open to liability should the business be sued for some reason. Forming a Limited Liability Company can be a good way to help shield your personal assets in the event of a lawsuit. Operating as an LLC can also provide your business with more credibility in the marketplace.

If the time is right for you to move your business forward, give us a call to set up an appointment to discuss the best form of business for your situation.   

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