Starting a new business can be an unbelievably exciting time! Unfortunately, due to various governmental agency compliance issues, it can be an overwhelming undertaking.

The statistics don’t lie. Most new businesses will not make it past their first year. The big question is why?

Entity choice is important for many reasons. Asset protection and tax considerations are always near the top of the list. As a business progresses through the five (5) phases of a life cycle: start-up, growth, maturity, renewal/rebirth/decline and succession– the factors that earlier prompted a particular choice of entity may change. And, a new entity choice may become more appropriate.