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Setting Up My First Business

Discussion in 'Introductions' started by SBostick, Sep 7, 2016.

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  1. SBostick

    SBostick Entrepreneur

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    Hello all, i am currently trying to set up my first business as a supplier or sub contractor to begin selling goods to the government. Im kind of stuck at a fork in the road at the moment and need some valid tips from people who have been here before. Right now i am by myself and i need to know whether i should set up a sole propietorship or and LLC when im just starting off. Any help would be monumental.
     
    azgold likes this.

  2. William Clements

    William Clements Moderator Business Owner Entrepreneur

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  3. azgold

    azgold Moderator Entrepreneur

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    Hi, @SBostick and welcome to EFix!

    I have not been in your particular shoes but I would set up an LLC, just to protect yourself.

    I don't know where you live, or your specific business but I know from places that I've worked here (Canada) that the government is very slow to pay. That could put you in a tight spot financially. An LLC would protect your personal finances.
     

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