Why Should Someone Incorporate Their Business

Examining business papers

Incorporating a business can provide several benefits, including:

  1. Limited liability: Incorporating a business limits the personal liability of the owners, also known as shareholders, for the company’s debts and legal issues.

  2. Tax advantages: Incorporation can provide tax benefits, such as the ability to deduct business expenses and potentially lower tax rates on business income.

  3. Increased credibility: Incorporating a business can increase credibility with customers, partners, and investors, as it demonstrates a level of professionalism and commitment.

  4. Attracting investors: Incorporating a business makes it easier to attract investors and raise capital.

  5. Perpetual existence: An incorporation has a perpetual existence, meaning that it will continue to exist even if the shareholders or directors change over time.

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