Small Business Incorporation: Legalized Entity

2007-03-08 10:33:40

( Business )



SMALL BUT INCORPORATED

Being a small business does not mean that you cannot enjoy the many benefits of incorporation. Small business incorporation affords you the legal protection that is being given to big corporation but does not ask the same requirements.

In reality, small businesses are more vulnerable to financial problems given their smaller capital and fewer assets. But small business systems are as equally liable as their multinational counterparts when they are faced with legal and financial complications. The law does not make a distinction whether you are big or small; you will be penalized according to the gravity of the situation.

If you are a group of three or more and are planning to establish a business, you will be better off formalizing the company through small business incorporation.

DEFINITE LINES

Small business incorporation creates a clear line that separates your personal assets from those of the company’s. This is very important especially when your business becomes involved in a liability suit or has to file for bankruptcy. In these cases, only your company’s assets will be used to pay for your company’s obligations. Under no circumstances will your personal properties be involved in your business problems.

Another advantage of being a corporation is the prestige and air of professionalism that being a corporation gives your business. Customers and competitors alike will accord you more respect because you are a legal entity recognized and protected by the State. This can be important in boosting your morale and in uplifting the quality of your products and services.

You need not be concerned about the costs because small business incorporation fees are affordable. The process is also very easy; in fact you can even incorporate small business online. All you have to do is provide the information asked and pay the required fees. Once application has been confirmed, your incorporation documents will then be sent your way.


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