Avoid Mistakes: LLC vs Sole Proprietorship [Video]

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Navigating the early stages of starting a business can be daunting, especially when deciding between an LLC and a Sole Proprietorship. In this video, Jared from BSY breaks down the essentials of each business structure, helping you understand the pros and cons to make an informed decision. Discover the simplicity and personal control of Sole Proprietorships and the asset protection, credibility, and financial advantages of LLCs. Whether you’re a freelancer looking to legalize your side hustle or an entrepreneur planning for long-term growth, this guide has everything you need to know about selecting the right business structure for your venture. Join us at BSY for more straightforward business strategies and resources designed to empower your entrepreneurial journey.

0:00 – Introduction to Business Structures
0:10 – Greetings and Channel Introduction
0:22 – LLC vs. Sole Proprietorship Overview
0:30 – What is a Sole Proprietorship?
0:59 – Advantages of Sole Proprietorships
1:33 – Drawbacks of Sole Proprietorships
2:18 – What is an LLC?
2:59 – Advantages of an LLC
3:42 – When to Choose a Sole Proprietorship
3:47 – Why an LLC Might Be Better for Long-term Business
4:01 – Additional Resources and Closing