Sonnie’s Porch

No doubt life is hard because of the unhampered fuel price increases. And CNNs Larry King have illustrated this more vividly when they brought to the table the (American) pilots concern that passenger safety is  compromised because (American) Airlines’ companies decided to reduce fuel reserve for their airplane (the lighter the plane, the more savings on fuel consumption; excess fuel is reportedly adding the unnecessary weight). It was also noted that jobs are being cut in order for the industry to survive.

Because of this, there are those who decided to have their own business. Small it may be, these people believed they can find a gold during this difficult time. Some actually prospered, in a time of crisis, they looked for a common need and decided to offer a product or service to fill it.

If you are one of those who already set up a small business, or seriously pursuing that path, you must consider protecting your personal assets as your first action plan to secure your family.  Be prudent and incorporate your business early.

By incorporating your business, your personal assets are protected from liability. It’ll give your small business a legal personality. Your business can have it’s own assets, enter into partnerships and contracts, sue and be sued.  Likewise, owners and/or shareholders will not be liable for the debts and obligations of the corporation or from any litigation where the corporation is the defendant.

There are 2 ways to do it. (1) Seek the services of either a lawyer or a certified public accountant, or if service is available, (2) Apply online. There are companies whose business is to help start-up businesses in obtaining their own legal personality.

Indeed, our times call for boldness and prudence.