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When to Convert A Business From A Sole Proprietorship To An LLC
It is time to go from a sole proprietorship to an LLC when you are serious about growing your business and earning a profit.
Sole proprietorships are only good for very low-profit/low-risk businesses.
Example: A sole proprietorship can be a good way to start out if you are doing business on a small scale or want to try out a low-risk venture to see how successful it will be.
Forming an LLC allows business owners to grow their businesses and take on risk.
This is because LLCs provide personal liability protection.
What is personal liability protection? When a business owner has personal liability protection, they can’t be held personally responsible if the business suffers a loss.
This means personal assets (car, house, and bank account) are protected.
Start an LLC
If your business already earns a profit or if it carries any risk of liability, you should start an LLC immediately.
Why You Should Form an LLC
There are several benefits to starting an LLC that may or may not ma
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