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Start a Corporation
How to Start a Corporation
There are thousands of small and large business owners out there today who do not have their businesses incorporated. You could find one day that this will cause you a great deal of problems. There have been thousands of cases of business men and women losing their entire life because their business was not incorporated. There are many things that can happen to you and your business if you do not take the opportunities that incorporation gives you.
If you choose to start a corporation, you are making the right decision. Liability is a huge risk for any business that is not a corporation. When you turn your company into a corporation this risk completely disappears. Your business is then a complete separate entity from your home and personal life. If your business was attacked with liability and it was not a corporation, you could lose your house and everything you own, not just your business. This is something that has happened to thousands of business people.
When your business is upgraded to a corporation, you will find that your business is taxed at a lower rate. Not only this but you will also find that raising money for your business is that much easier, selling shares! With all of these benefits, why wouldn't you turn your business into a corporation?
There are of course a lot of decisions that have to be made and a lot of planning and management that needs to be done. A corporation is not something that happens over night, it does take work, but work that is well worth it. Once your business is developed into a successful corporation, you have escalated to the next great business adventure.
This is a decision that is not a difficult one, but it is one that needs to be acted on at a certain time. There are highs and lows in businesses and it can be very dangerous for your business if you take this opportunity at the wrong time. Always consult your business lawyer or even accountant before you move on this decision. Making your business a corporation is something that is meant to make your business better, not destroy it.
Any successful business can make this transition and you will find yourself with successful results beyond your wildest dreams. The last great advantage that you should know about before you make your final decision is that when the time comes and you want to sell your business, it will sell much higher and faster once it is a corporation. This makes it that much more valuable to any buyer.
Now that you know how to start a corporation yourself, it is time to get out there and do it.