Protect Your Personal Assets
Incorporating your business is one of the best ways you can protect your personal assets. A corporation can own property, carry on business, incur liabilities, and sue or be sued.
Have Easier Access to Capital
Raising capital is generally easier for a corporation since a corporation can issue shares of stock. If you’re in the market for a bank loan, that’s another reason to incorporate. In most cases, banks would rather lend money to corporations than to unincorporated business ventures.
Enhance Your Business’ Credibility
Suppliers, customers, and business associates often perceive corporations as being more stable than unincorporated businesses. Business name conveys permanence, credibility, and stability, and communicates your commitment to the ongoing success of your business venture.
Corporations are the most enduring legal business structure. This means that by incorporating your business, you may be able to avoid the legal entanglements that could result in other business structures.
A corporation can offer anonymity to its owners. If you want to open a small business and don’t want your involvement to be public knowledge, your best choice may be to incorporate it.