I did so for previous ventures. For my current consulting business I'm a sole proprietor. I'd advise against incorporating early. Especially with product-based

I did so for previous ventures. For my current consulting business I'm a sole proprietor. I'd advise against incorporating early. Especially with product-based startups there's this temptation to "do it properly right from the start" and plan ahead for when you need to do things like raising venture capital. This is the business version of premature optimisation. In all likelihood you aren't going to need it and you most certainly don't need it when you're starting out. In general, I'd say that incorporating only makes sense if either - The risk becomes too high for you to assume personal liability. This can happen due to several factors such as needing to hire more staff or investing into machines or infrastructure (please note though: Banks generally expect the principal owners of a business to act as guarantors for loans anyway. So, limited liability doesn't help all that much in that case.). - Some third party wants to invest money in your business in exchange for company shares.