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Why you should never do business as yourself. This may sound counter-intuitive, but doing business as yourself – or as a sole proprietor – is a very bad idea in general. In this video, I’m going to explain why.
A sole proprietor or sole trader is a type of business structure where you’re effectively working as yourself. A better was to structure the way you do business, whether you are a solo person or not, is via a company structure, corporate entity, trust, or similar. This may all sound confusing, but I’ll explain more in this video.
So whether you’re trying to lower your tax, save more money, get better banking options, or set yourself up globally for increased freedom, you’ll learn a lot in this video about why you doing business in your own name is a bad idea.
0:00 – Introduction
0:51 – The concept and who it’s for
1:40 – A legal disclaimer
2:03 – The difference between you and an entity
3:23 – Bad idea one: Liability
6:06 – Bad idea two: Tax
9:24 – Bad idea three: Location Limitations
13:10 – The solution
16:25 – Outro
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