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When starting a business, you have to put in a lot of hard work and make a lot of decisions. Going into it you may have a certain idea of what you think your startup will look like, and along the way you may change your mind; it’s all part of the process.

At Gathings Law, we totally understand that process and are here to help. In this week’s #TipOfTheWeek video, Gathings Law Senior Partner, Lloyd Gathings, talks about one of the many decisions that you have to make when starting a business- choosing a business entity. This means figuring out whether your startup will be a corporation, LLC,partnership, etc. Some people don’t necessarily pay attention to that detail and assume that business entities are one-size-fits-all and that is not the case. The business entity that works best for your startup depends on what your business is, what your financing looks like, how you expect to get future financing, and much more.

At Gathings Law we talk to new businesses all the time about this and sometimes our clients come in with one business entity and leave with a different one that is better suited for their needs. If you own or manage a small business and need legal advice, give Gathings Law a call. We are dedicated to helping our clients reach their fullest potential.

As a reminder, Gathings Law will be posting different legal tips every week on social media. If you have any questions that you want answered, tell us what you’d like to hear about next; we’d love to hear from you. Go to our Facebook page, @GathingsLaw, to cast your vote for next week’s topic. To make sure that you don’t miss any Tips of the Week, follow Gathings Law on Facebook, Twitter, Instagram, LinkedIn, and YouTube @GathingsLaw.