Tographer Tuesday: Business Series-Becoming a Business
First things first when you start your business you need to decide what type of business your business is going to be and then you need to register your business so that it is legally a business. There are a bunch of different options theres sole proprietor, partnership, Limited Liability Corporation (LLC), S Corporation, and Corporation. Which one you choose is based on your overall business structure. If you are a single photographer you should probably go with Sole Proprietor or LLC. LLC will protect your personal finances if you were to have legal issues where Sole Proprietor will not. If you are more then 1 person big then you should think about Partnership, LLC, or even the corporations depending on how big you plan your company to be. My advise is research all of them and find the one that fits best for your new business. Once that is set go to the state you plan to do business in and register your business with them. As soon as you do then you can start applying for things like insurance, bank accounts, etc. May of the other items will be covered in the next blog post so stay tuned for this very informative series.