Corporations

This type of business structure is ideal for individuals or groups seeking a clear separation between personal assets and the business, as it limits personal liability. Additionally, corporations have the ability to raise capital more easily compared to other business structures, through the issuance of stock to investors.

This makes it an attractive option for entrepreneurs who seek to expand and grow their business by attracting external funding. Corporations also have perpetual existence, meaning they continue to exist even if the ownership or management changes, ensuring business continuity. They often enjoy more credibility with customers, suppliers, and investors due to their formal structure and legal protections.

While corporations are subject to more regulations and formalities than sole proprietorships or partnerships, such as holding regular meetings, keeping detailed records, and filing annual reports, they offer significant advantages for those looking to scale their business, limit liability, and take advantage of tax strategies such as the ability to deduct certain business expenses