Did you know that over 1.35 million new businesses filed applications to start in the United States in the first quarter of 2021 alone? This marked a major increase compared to 837K in the previous year.
Image via Oberlo
This points to the fact that more people are trying their hands at entrepreneurship than ever before.
So, if you’re one of those people, you must know business structures and their pros and cons very well. After all, a lot of features of your business would depend on them.
The two most popular business structures you can choose from in the US are Sole Proprietorships and LLCs.
This can make it confusing to choose between them. To help you out, we’ve put together this guide.
Source: https://www.entrepreneurshipsecret.com/sole-proprietorships-vs-llcs/