Should not be an LLC is not the same as not being a businesses. Propertiorship are perfectly good way of running a small biz. Each category has additional pape

Should not be an LLC is not the same as not being a businesses. Propertiorship are perfectly good way of running a small biz. Each category has additional paper work and regulations which protect the people like customers, vendors, employees and investors who they deal with. The "limited liability" part of LLC benefit comes with the cost of following some governance and having seperate finance and agreeing to follow additional regulations as required . Very small businesses should opt for propertiorship just as small business should not go public and become a PLC. The benefit giving access to retail investors comes with cost of deeper regulation in that case.