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Published on 9/24/2021 additional information available

Choosing the right legal structure for your business should never be about cost.

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Dear Business owner,

Choosing the right legal structure for your business should never be about cost.

Stop using the cost of registration as the yardstick for registering your business as an enterprise ( business name) when you should actually be registering as a proper company.

Agreed, a business name also known as a venture or Enterprise maybe cheaper ( cost wise) than an actual LLC but I'm the long run it is almost pennywise Pound foolish.

Do you know that a business name does not offer any form of legal protection from any liability?

Do you know that you cannot enter into a contract using your business name?


Because the law does not see the business name or Enterprise as a legal venture.

Do you know that you cannot access equity funding opportunities or attract  equity investors into your business when you register as a business name and not as a Ltd liability Company?

That means that you have to rely solely on your personal financing and loans from Family members and friends, banks or even online loan  companies.

You see those online loan companies, they will drag your generation if you  default in repayment even for one day.

Do you know that it will be almost impossible to scale your business name as fast as you can scale a company?

Do you know that business names or enterprises have very limited scope in terms of the businesses that you can do under it?

Do you know that there are some contracts you can't get and some organisations that won't do business with you just because you do not have a limited liability Company?

Dear Business owner,

the legal aspect of your business is not limited to registration of the business alone.

There are legal implications for choosing to structure your business as a Ltd liability Company or as an enterprise.

Stop deciding  the legal structure of your company based on cost.

This thing can really grow big  you know.

Have the big picture in mind always when starting your business.

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