Business growing past partnership or single owner stage but not quite ready to incorporate? A limited Liability Company can relieve a lot of the legal pressures, including your personal liability for the actions of the business.

There comes a time in the life of a business when the owner or owners, have to decide on the best corporate structure. Should the business continue as a sole proprietorship or partnership, or should it be incorporated. One may be too simple, and the other too intricate... that's when a Limited Liability Company (LLC) may need to be formed.

However, like incorporation, there are a lot of things to consider as to which structure to adopt, and, either will cost a lot of money in legal and lawyer's fees. Fortunately, with the proper documents and technical and legal assistance, you might be able to structure your business as a Limited Liability Company (LLD).

WHY CHOOSE A LIMITED LIABILITY COMPANY (LLC) BUSINESS STRUCTURE?

An LLC is a separate entity from the individuals which own it. This is similar to an incorporated business, where the owners, and shareholders, have a degree of protection of personal property in the event of business decisions or events that result in legal actions against the business.

Additionally, in an LLC:

1. Taxes of the business are not taxes of the owners.


2. Individual owner assets are protected in the event of legal actions against the company.


3. there is a greater flexibility in management structure and actions than in a more rigid incorporated business entity.