By Nina L. Kaufman,
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"Life is trouble only death is not,
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Well,
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Cloud 1: You risk the whole ball of wax,
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One of the benefits of doing business as a limited liability entity (such as a corporation or limited liability company) is that the structure (that’s so unwieldy to the sole proprietor) acts as a protective fortress against personal liability. Sole proprietors don’t have that shield of protection. As a result,
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Cloud 2: A house of cards crumbles easily,
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Erratic economies,
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Cloud 3: You may lose business opportunities,
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Larger companies like to use independent contractors because they do not have to pay Social Security and Medicare taxes on their behalf. Yet,
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Cloud 4: You curtail business expansion opportunities,
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One of the most significant ways for a small business to expand is to bring in other business owners because they can contribute capital,
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Cloud 5: You risk thinking small,
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There’s no law that says your have to want to be a millionaire if you go into business for yourself. You may be quite content with remaining a one person operation. But just as putting on a suit to go to that important client meeting (or special date) makes you feel and act differently,
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As you can see,
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