Читать книгу Start & Run a Landscaping Business - Joel LaRusic - Страница 10

By far the easiest and cheapest form of business setup is the sole proprietorship, and it is what I recommend you start out with. A sole proprietorship is simply a business owned and operated by one person. You and the business are one and the same. You have full decision-making control over the business and you get all the profit, which is recorded on your personal income tax statement.

On the other hand, since the business is legally considered an extension of you, you have no protection against creditors. You assume all responsibility and liability for your business. Sole proprietorships lack the tax flexibility that an incorporated company offers. As well, if you need financial backing for your start-up, you may have more difficulty attracting it than you would with a legally incorporated company. Finally, if you are seriously injured or die, there will be no one to carry on the business. You or your survivors will lose that source of income.