Information
We at Sol Professionals LLC understand that forming a business can be daunting. That's why we've compiled this FAQ to address common questions and concerns. Explore the information below to gain clarity and confidence in your business formation journey.
Frequently asked questions
Here you'll find answers to the most common questions we receive about business formation. Whether you're just starting or already running a business, these FAQs can help you navigate the complexities and make informed decisions.
What are the top 3 most frequent questions potential clients ask about business formation?
What type of business entity should I choose? Clients often wonder whether they should form an LLC, corporation, partnership, or sole proprietorship. This decision impacts liability protection, taxes, and how the business can grow.
What legal and tax requirements do I need to meet? Entrepreneurs ask about licenses, permits, EIN (Employer Identification Number), contracts, and compliance obligations. They want clarity on how to avoid mistakes that could lead to penalties or limit their ability to operate.
How much does it cost to start and maintain a business legally? Clients are concerned about formation fees, ongoing state filings, accounting costs, and taxes. Many want to know the difference between upfront costs (like registration) and recurring expenses (like annual reports or franchise taxes)
Are these FAQs for people just starting or already running a business?
For Aspiring Entrepreneurs (Just Starting)
Questions about choosing the right entity (LLC, corporation, sole proprietorship).
Concerns about legal requirements, permits, and registration steps.
Hesitations around costs and risks of starting a business.
For Existing Small Business Owners (Already Running)
Questions about formalizing an informal business to access contracts or funding.
Concerns about compliance, bookkeeping, and marketing gaps.
Interest in assessing strengths and weaknesses to grow sustainably.
What are the biggest concerns or hesitations people have about forming their business?
Cost & Financial Risk: Worrying about the upfront costs of registration, licenses, and permits. Fear of ongoing expenses (annual filings, taxes, accounting fees). Concern that they might invest money before knowing if the business will succeed.
Legal & Compliance Complexity: Confusion about which entity type to choose (LLC, corporation, sole proprietorship). Fear of making mistakes with paperwork, contracts, or tax obligations. Anxiety about liability “Will I be personally responsible if something goes wrong?”
Knowledge & Confidence Gaps: Feeling overwhelmed by the “lingo” and technical steps. Not knowing where to start or which resources to trust. Hesitation because they don’t feel “qualified” to run a business.
Time & Effort: Concern that the process will be too time-consuming or complicated. Balancing business formation with existing work, family, or side hustles.
Fear of Failure: Worrying that the business won’t succeed even after formalizing. Hesitation to commit because of uncertainty about market demand or competition.
What's the single most important thing you want people to understand after reading this FAQ?
You don’t have to figure out complex paperwork, legal structures, or compliance alone. Sol Professionals LLC exists to simplify the process, highlight your strengths, and help you overcome weaknesses. The ultimate goal is not just starting a business, but creating one that thrives long-term.
Ready to launch your business with confidence?
Don't let the complexities of business formation hold you back. Sol Professionals LLC is here to guide you every step of the way. Contact us today to learn more about our services and how we can help you achieve your entrepreneurial dreams.