Why You Need An LLC!

It’s simple! You need that liability protection to secure the bag.

LETS TALK ABOUT IT

An LLC or Limited Liability Company is a legal business entity used to operate your business. An LLC provides you with limited liability protection that helps separate you from your business. The company itself is owned and managed by the member(s). The owner(s) of an LLC are referred to as member(s) and all LLCs must have at least one member.

I will always suggest you speak with a licensed attorney prior to registering your business. I say this because they will ensure you have everything you need to accurately register your LLC and to be sure that your business is adequately protected from the beginning.

All LLCs, regardless of the state you are in, must be registered with your Secretary of State. To find more information on this or register your business, go to your state’s SOS website. The site is sos.yourstate.gov.

For Example: sos.la.gov is the SOS site for Louisiana.

Registering your business is a process that needs to be carefully completed to ensure everything is done correctly. Prior to registering your business, you need to research your desired name to be sure it is available. Failure to do this could result in your filing being rejected because the name is not available. The last thing you want to do is pay to register your business, have it rejected, then have to pay again because you didn’t adequately do your research.

Every LLC formation will require the same basic information. This can vary depending on the state you are in, but it will not change by much. Below is a list of what is typically needed when registering your limited liability company with your state.

You will need the following to register your LLC.

Company name
Company mailing address
Company email address
Member(s) name, address, and phone number (may need to list a manager which will be a member designated as the manager)
Registered Agent name and address
General information about your business
The filing fee

– Filing fees vary depending on the state.

LLCs are great for small businesses and large businesses. Most large businesses still utilize LLCs because it is still beneficial for them even after they have scaled. As a small business, with an LLC you are eligible for several things such as grants, funding, free checking accounts and more. While the definition of a “small business” varies between organizations, it is often considered a business that makes less than $1 million annually. You can visit SBA.gov for more information on small businesses and what you qualify for.

There are also a ton of private organizations that offer FREE money to small and minority businesses. Do your research and collect these coins!

After reading this, I hope it gives you an idea of the importance of having an LLC. You need an LLC to provide you with liability protection by separating your personal assets from your business. Having an LLC also offers other perks including, eligibility for a business bank account, opportunity to qualify for business grants, and more. Without the LLC, you are limiting your bag and exposing yourself to liability issues. Think of your LLC like equity. It allows your business to be “valued” higher, making the price go up!

We don’t start businesses to only make a certain amount then stop or reach a goal then quit. We start businesses, set goals and then surpass them. The LLC business formation is an integral step in growing your business and surpassing your goals!