Scott Allen
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Thanks for sharing your counterpoint, Laura.
I agree with you about credibility when going to the banks. If you're going to take on a significant amount of debt, I do recommend incorporating -- however, NOT because it will protect your personal assets in the case of an inability to service the loan, because it won't -- you'll probably have to co-sign anyway, as I said.
I think you really hit the nail on the head with this statement:
"I think that growth potential, and growth plans are a prime consideration in choosing a business structure."
For example, for my business, I have made the absolute decision that I will not hire employees, set up an office outside the home, etc. I don't want it. I will do everything by hiring freelancers and partnering with other independents or small businesses. I know people who do this who make high 6-figures and even 7-figures working this way. It's the lifestyle I choose and consistent with the brand positioning I have chosen. And simply put, I don't want to do business with a company that wouldn't want to work with me because of those decisions. There are plenty of other fish in the sea.
But that doesn't work for every business, by any means.
Scott Allen
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