Persons who will carry out a commercial activity must establish a company in order to make invoiced sales and to pay taxes on the income they earn. Otherwise, individuals may face certain criminal sanctions. Therefore, before opening any business, people establish a company.

Today, people who want to establish a company act by choosing one of the individual, limited and joint stock companies. However, those who want to establish a small and medium-sized business mostly prefer sole proprietorships or limited liability companies, which are among the types of companies. When choosing one of these types of companies, people primarily act by considering certain factors.

In this article named as Private Company or Limited Company, What are the Differences, we will give you information about individuals and limited companies. Then, we will make a comparison of individuals and limited companies in order to answer the question of whether it is a sole proprietorship or a limited liability company, which is one of the most frequently asked questions . You can decide more easily on the type of company you will establish by examining our article.

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Before moving on to the differences between a sole proprietorship and a limited liability company, let’s first take a look at what individual and limited liability companies are.

Sole Proprietorship or Limited Liability Company? What are the Greenland Email List Differences between a Sole Proprietorship and a Limited Company?what is a Sole Proprietorship?

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The sole proprietorship , which is one of the most establishe company types , is a company type establishe with one or a few partnership structures. In this type of company, there is no difference between a person and a business according to the commercial law.

the owner of the business is responsible for the receivables and debts of the company.  sole proprietorships also have legal personality.

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