If you are a start up business and you want to know and have a good example on the various business types, New York City is the perfect place for that. The most perfect city to be set as an example,
Currently people living in NYC is 8,573,673 according to the U.S. Census Bureau Population. And the diversity starts there. People having different ethnicities, working in variou shifts, and in various industries. In various location, small, medium and big, The diversity doesn’t end there. So you can only imagine how many business right now are present in New York that are in operation day and night, 24/7, 7 days a week.
The business diversity in New York City:
Even if there are many business here in New York City, because of the diversity and the large number of people living in this place it’s still the best place to put up a business. And what’s good about this city? Even if the business are not along the road or hidden people will always find it.
One of the common business structures here in NYC is LLC:
This is not for everybody, but if you’re a small company that wants to amp it up an LLC is the way to go. So why LLC (Limited Liability Company), why not an enterprise or a corporation? This is because LLC protects the founders of the company from any financial losses. A business is no stranger to losing and some companies lose a lot that they need to close their doors.
Justifying an LLC formation:
If you are a big company and you can take the hit that’s fine because even if how big your investment loss is you can still recuperate and rise from the ashes like the ones that Samsung encountered with the Galaxy Note 7. Instead of closing their smartphone business, they bounced back with their S8 and S8+ line that made the Note 7 mistakes forgivable and put Samsung back into the game. But for a small company that only has 1 device, a flagship that they invested most of their company saving except for their own individual savings and it flops big time it’s hard to recover and there is no choice but to either sell the company or close it.
If you are a small company an LLC is a good choice:
in fact, it’s your only choice at the moment. Because it protects you, A rather the law protects you from getting bankrupt. Your company may be down and there are institutions that you are indebted to, as the law states they can only collect company properties and not your savings. Preventing you from being bankrupt and homeless.
But forming an LLC is a challenge of it’s own and it’s never easy. In fact if you’re a novice in all of this you will need help. A professional help and in NYC there is no short of help. If you want the best that is another story. Winsor Corporate Services can help you easy and fast. Giving you more time for your business and less on the paperwork. You don’t really know or you can’t really tell when a bright deal may struck and if it does you need to be sure that you are in your desk doing the work than facing the papers in forming an LLC. When it comes to New York LLC formation get only Windsor.