Choosing the Right Business Structure for Your Venture in Abu Dhabi Mainland: Sole Proprietorship vs. LLC
Understanding the Basics Deciding on the right business structure is a critical step for any entrepreneur starting a venture in Abu Dhabi Mainland. Two common options to consider are Sole Proprietorship and Limited Liability Company (LLC). Both structures have their pros and cons, so it's essential to understand the differences before making a decision. Sole Proprietorship: A One-Person Show A Sole Proprietorship is a business owned and operated by a single individual. This structure is straightforward and easy to set up, making it an attractive option for small businesses and freelancers. As a sole proprietor, you have full control over your business and its profits. However, you are personally liable for any debts or legal issues that may arise. LLC: Combining Protection and Flexibility An LLC offers more protection and flexibility compared to a Sole Proprietorship. As a separate legal entity, an LLC provides limited liability protection, meaning that your personal assets a