Not just a poll for startup founders. More generally, if you are a consultant, take contract work, or are an independent contractor have you taken the step to incorporate or organize a LLC for legal protection, or any other reason? Please leave comments about your specific situation.
Poll: Do you have your own company?
1–10 of 120 posts
Re: Poll: Do you have your own company?
#2Personally I have formed an LLC for a energy drink business I started and a P.A. (professional service corporation) for my own law firm.
Re: Poll: Do you have your own company?
#3I've been consulting on user acquisition for close to a year now, and also run a fairly large "side-project" (not sure if it yet warrants being called a "company"). So far I'm operating as a sole proprietor, but plan on filing for an LLC soon, which will act as an umbrella LLC for both my consultancy and the project.
Re: Poll: Do you have your own company?
#4I've been consulting on user acquisition for close to a year now, and also run a fairly large "side-project" (not sure if it yet warrants being called a "company"). So far I'm operating as a sole proprietor, but plan on filing for an LLC soon, which will act as an umbrella LLC for both my consultancy and the project.
Before organizing your LLC, consult with an attorney (most should offer a free consultation). Generally, you would want separate legal entities for your consulting and side-project business, as they sound unrelated. If both function under the same LLC, then one may be accountable for the liabilities of the other. A consulting business will generally have very limited potential liability; nevertheless, a free consultation could be invaluable.
Re: Poll: Do you have your own company?
#5I have a full time job, but do contract work on the side. I have an LLC for that, as well as for sales from my Android apps.
Re: Poll: Do you have your own company?
#6Currently ramping up work on several related side projects and preparing to file for an LLC within a few months.
Re: Poll: Do you have your own company?
#72.5 year old company. Data intelligence focus. 5 full-time employees (incl founders). Fully remote. On track to do $1M+ revenue this year.
Re: Poll: Do you have your own company?
#8I voted twice. I run a startup company that provides consulting services and acts as an incubator for in-house ideas. If one of the side projects grows large enough that it starts making "real" money, it will get its own LLC and DBAs to separate the liability from parent's core business of consulting.
I'm in NY, which is home to one to publication requirements, so I only form LLCs for projects when the potential for profit exceeds $10,000 a year. Otherwise, it's really not worth the hassle to start working on the business.
Re: Poll: Do you have your own company?
#9I have a startup configured as an LLC right now. I've been dayjobbing to bootstrap it for the past year, but will be going full-time on the startup in mid-June. I've been contracting as W2 through a pimp, rather than using my company for it.
Switching to full-time is going to be very interesting. Dayjobbing has been good for buying me some time to really think through what I'm doing and climb some learning curves, but a: it takes up the best hours, and b: the unlimited runway makes me lazy and sloppy. Once I'm full time, the clock will be ticking, and I don't ever want to have a dayjob again.
Re: Poll: Do you have your own company?
#10Well, I am not in US, so I don't even know what is INC and LLC. But I voted for "Yes - a startup i founded".