How to Select a Business Entity
Considerations When Selecting a Business Entity
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How Do I Select a Business Entity?
You should choose a business entity that accommodates your intended business operations and growth at the appropriate stage of your business life cycle.
In selecting a business entity, one must understand the attributes of each business entity type in making a choice. The attributes that the entrepreneur must evaluate are as follows:
- Creation Process
- Ownership Structure
- Operational Control and Decision Making
- Personal Contract and Tort Liability
- Compensation & Tax liability of the business and owners
- Tax Consequences
- Governance and Entity Maintenance Requirement
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