An LLC (Limited Liability Company) is one of the most common and flexible business structures for small business owners. It separates your personal assets from your business, keeps paperwork manageable, and works well for tradespeople, side hustles, and growing companies.
The simplest structure—you're the business. No formal registration, but you carry all personal liability.
Best for: Individuals testing an idea or operating low-risk, independent work.
A business owned by two or more people who share responsibility, profits, and liabilities.
Best for: Two or more people starting and operating a business together.
A popular hybrid structure that protects your personal assets while keeping paperwork manageable.
Best for: Small businesses seeking liability protection with operational flexibility.
Offers tax benefits by allowing profits to “pass through” to owners without self-employment tax. More rules, but great for saving on taxes.
Best for: Established businesses looking to optimize taxes while remaining closely held.
A completely separate legal entity. Can raise capital, issue shares, and go public. More paperwork—but maximum scalability.
Best for: Companies planning to raise capital, issue equity, or scale aggressively.
A mission-driven organization formed to serve a public or charitable purpose, operating under strict governance and compliance requirements.
Best for: Mission-driven initiatives serving public, charitable, or educational purposes.
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