What Is a Business Entity?
An entity is a being that physically exists and is largely self-contained. Relating this definition to businesses, a business entity is both the fact and form of a commercial, corporate, non-profit, or other institution. Your Conroe business attorney will help you decide upon what form of business is best suited to your needs, and help to ensure that your business thrives.
All entities are affected by the environment around them, and this holds true with business entities. You will need to decide where it is best to situate your business, for location is extremely important. If, for instance, you decide upon a strip mall where all the other businesses have closed, this is certain to negatively impact the traffic to your business. Moreover, as a Conroe business attorney will advise you, it would not be appropriate to open an exclusive boutique in an economically depressed location.
Form of the Business
Each business owner's needs are unique, so there is no one optimal form of business that is best for everyone. If yours is a very small enterprise with no employees, for instance, you may find that a sole proprietorship is best for you. If you are more concerned with avoiding personal liability, then an LLC or corporation may be better. Your Conroe business attorney will discuss in detail the advantages/disadvantages of each business form so that you can then make a reasoned decision on how best to set up your enterprise.