Starting your own business can be both challenging and rewarding. You want to make sure you get off on the right foot by choosing the type of entity that’s right for you and your business. To help you make the best possible choice, here are some factors to consider along with which business entity might best serve you.

What is a Business Entity?

A business entity is an organization that will conduct business. An alternate name to a business entity is a business structure.

What are the Types of Business Entities?

There are multiple business entities that you can select from:

• Sole proprietorship 
• Partnership
• LLC
• S-Corp
• C-Corp

A description of each business entity, its requirements, and what each business entity offers follows below.