Many new immigrants come to the United States hoping to one day realize the American dream. They are willing to work very hard so that their children will be able to benefit from their sacrifices. This is what drives many of the immigrants coming to this country. Although many of these immigrants wind up working for companies, many dream about owning their own business and becoming financially independent. The entrepreneur would rather work for himself, set his own hours, and reap all the rewards of business success. However, before the entrepreneur forms his business, he must first realize that businesses can take different forms under American law.

There are essentially six types of business entities to choose from:

• Sole proprietorships
• General Partnerships
• Limited Partnership
• C Corporations
• S Corporations
• Limited Liability Companies

Choosing the right type of business enterprise is one of the first and most important decisions that a potential business owner comes across. The choice of entity for a particular business depends on many factors and the success of the business may rest heavily on the form of business chosen. The organizational structure chosen will have an effect on how easy it is to obtain financing, how taxes are paid, how accounting records are kept, whether personal assets are at risk in the venture, the amount of control the "owner" has over the business, and many other aspects of the business. Keep in mind that the initial choice of business organization need not be the final choice.

For other information about Business Entities, please click on one of the following topics below:
Description
Sole Proprietorships
General Partnerships
Limited Partnership
C Corporations
S Corporations
Limited Liability Companies
Most Frequently Asked Question about Business Enterprises?