Choose a business structure
This lesson is a guide published on sba.gov.
Read the guideWhat you'll get
The SBA compares the common structures, from a sole proprietorship and partnerships to LLCs and C, S and benefit corporations, by ownership, personal liability and taxes. It calls a sole proprietorship a reasonable way to test an idea for a low-risk business, and warns that changing structure later can bring tax costs.
Do this week
Read the row for the structure you'd choose today and the one you'd need if you raised money, and write down what would have to happen for you to switch.