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Category Archives: Sole Proprietorship

CommLiti

How to Protect Your Personal Assets as an Entrepreneur

By Godfrey Legal |

The decision to become a small business owner is not one you should take lightly. While you may be sick of working 9-5 for your boss, running your own business is much more difficult. Instead of working 9-5, you’ll likely be working closer to 5 a.m. to 9 p.m, seven days a week. Plus,… Read More »

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Sole Proprietorships Not a Priority for Paycheck Protection Program

By Godfrey Legal |

If you own a small business, you may be excited to hear that President Trump implemented the Paycheck Protection Program. This program authorized $349 billion in forgivable loans to small businesses so that they could continue to pay their employees during the coronavirus crisis, despite having to shut down or see reduced revenue. This… Read More »

BusLaw5

Is a Sole Proprietorship Right for Your Side Business?

By Godfrey Legal |

Many people dream of leaving their job and starting their own business. However, to ascertain if this dream is possible, many people will start their business as a side hustle. This means they will work their 9-5 job and then work their side business in the evenings and on weekends. They may determine that… Read More »

SmallBus2

Why a Sole Proprietorship May Be in Your Best Interest

By Godfrey Legal |

Talk to various people about what they think is the best business structure, and more than likely, they’ll tell you to form an LLC and go incorporated. That’s because this type of structure offers protection for those with personal assets. If you get sued or anything happens to your business, your personal assets are… Read More »

BusinessWoman

Changing Your Business Structure

By Godfrey Legal |

When an entrepreneur is just starting out, choosing a business structure is not always a high priority. Most just choose the default structure of sole proprietorships, which is reserved for companies owned by just one person. Sole proprietorships are often preferred, since they are easy to set up and require the least amount of… Read More »

SoleP

Sole Proprietorship vs. LLC: Which Should You Choose for Your Company?

By Godfrey Legal |

You’ve decided to move forward with your home-based business. Maybe you plan to sell food or gifts. Perhaps you will sell services, such as construction work or writing services. If you are the only one who owns the business, then your first thought may be to go the sole proprietorship route. It’s inexpensive and… Read More »

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