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I'm also weird! In my opinion incorporating only makes sense if you have multiple cofounders and want shared ownership, or if you get investment etc. If you a
by jakobegger 10y ago
I'm also weird!
In my opinion incorporating only makes sense if you have multiple cofounders and want shared ownership, or if you get investment etc.
If you are running your business alone, I don't see the point of incorporation.
Limited liability doesn't magically protect you from lawsuits. But it does cost a lot of money (obviously this depends on location, but even if it's cheap to register a business somewhere, all the accounting and minimum taxes and reporting etc sum up).
I run my company as a sole proprietorship, and I'm not planning to incorporate any time soon.
I've seen people waste thousands of euros on incorporating and setting up a company, only to close up again a year later... what a waste of time and money...
- saryant 10y agoMaybe in Europe it's different, but in Colorado I keep my LLC maintained and compliant for a couple hundred bucks a year. It's almost no work.