limited company and a sole proprietorship

[mamarika]

Hi all. I want to start my own business. What is the difference between a limited company and a sole proprietorship? I do not know what form to choose

 

[bossboja]

An individual entrepreneur owns a business, while an LLC can be opened with friends. If you are going to run a business alone, a sole proprietorship will work for you. The entrepreneur can work without employees and be responsible for everything himself. To open a business with friends, you will have to register an LLC. Then you will be able to attract up to 50 people as partners. I chose to share a business with friends, so we opened a washington state llc.

 

[charli90]

A limited liability company can be registered by several participants at once (but no more than fifty), while a private entrepreneur is a specific individual. The volume of documents to be submitted, as stipulated by the current regulations, differs by almost a factor of two.

 

[willowed]

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[willowed]

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[willowed]

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[willowed]

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