Many business owners are trying to cut costs, especially when starting out. Often, they try to “do it themselves” instead of paying a lawyer or accountant or both. However, this can turn out to be extremely costly, both monetarily and non-monetarily.
When selecting a business entity form and financing a business, it is worthwhile to obtain proper counsel as early as possible in the process. The right professional advice can help avoid early pitfalls that could, unfortunately, become prohibitive black holes if not addressed early and properly.