SunGate Insurance Agency Blog
Most entrepreneurs form corporations so they can protect themselves from legal and financial liabilities. A corporation separates your business assets from personal assets. But maybe you already kept them separate financially that you think incorporating isn’t worth the fuss. Think again! There are a lot of reasons why incorporating is a good idea. And there are only a few reasons not to.
Cons of Incorporating
There are far many advantages to incorporating and there are several types of incorporation. Business owners will choose a type solely to protect them and the stockholders from any personal liabilities against business debts or lawsuits. Each type or form has its individual pros and cons based on taxation, administrative overhead, and organization.
Pros of Incorporating
Whether you choose to incorporate your business or not, it mostly depends on your capital and your decision to sell shares. The best thing about this is that your personal assets are protected. Thus, if your company goes bankrupt, your personal assets won’t get affected.
While it’s important to protect your assets at all costs, making your business last long is equally important. This can be made possible by protecting it with business insurance.
Sungate Insurance Agency aims to meet the needs of your business by offering you a comprehensive business insurance coverage that protects your interests. Talk to one of our agents now! Call us at (407) 878-7979 or visit us today and get a business insurance quote from us for free!