Many entrepreneurs think that only very large companies are formed as corporations. But there are a significant number of new small businesses that are incorporated. One of the reasons for this is personal liability protection.
Is your new business venture based around a new product? If so, beware. Statistics show that less than 3% of all new products fail to gain $50 million in sales in their first year, the benchmark for a new consumer product.
You may have heard that incorporating your business is the best way to protect your assets including cars, homes, savings accounts and retirement savings and you’re right. If you don’t form a corporation or register your business in some way, your business is nothing more than an extension of your home finances which means that […]