What Does LLC Mean in Business?
Hello, this is your LLC Guru, welcome to our site where we help regular people get their own LLC’s quickly, inexpensively, and with confidence! If you need an LLC, then you are in the right place as we can help you get your own LLC in about 10 minutes!
What Does LLC Mean
A Limited Liability Company, or LLC for short, is a business entity often used in the U.S. for small, medium and large businesses. An LLC can be used for one-person shops all the way through to companies with 700,000+ employees like Coca-Cola.
Before we go any deeper, I want to make it clear that I am in no way giving legal or tax advice here!
Limited Liability Companies began in the 1970’s. This U.S. business structure offers the best parts of sole proprietorships and corporations in a hybrid entity that offers its owners liability protection, some clear tax advantages and a flexible management structure.
As the term limited liability company states, an LLC provides its owners limited liability protection. The owners which are referred to as members in an LLC, are protected from business lawsuits and/or business debts meaning that if the business has a debt or liability, the owner’s personal assets cannot be touched to satisfy the debts or liabilities of the company.
Personal asset protection is important if there are creditors going after the business’s assets. As an LLC owner, you only risk the amount of money you have invested into the business and your personal assets like your house or car are excluded.
LLC Quick Overview
So what does LLC mean in business? As an LLC quick overview, the term Limited Liability Company nearly speaks for itself. If you are thinking about starting a new business, we urge you to consider an LLC for the simplicity and huge amount of liability protection you will enjoy as a result of taking around 10 minutes to protect yourself!
If you’re considering starting a business, we have a free 10-Step How To Start a Business PDF download that we would like to give you – absolutely free – so be sure to check that out here on our site as well!
YourLLCGuru Philoshopy
We believe that everyone in business deserves the protection an LLC can provide. We are making the business world a better place one LLC at a time!
In my next post, we will unpack more details about LLC’s. Please check out some of my other posts here on this site or our videos on YouTube so you can learn more helpful information about LLC’s and how to use them to protect yourself in business. This is your LLC Guru!