This week was enlightening from a couple different perspectives. I learned about the pros and cons of a sole proprietorship LLCs. Interestingly, a sole proprietorship is formed simply by default when a business is started and no other form is chosen. This is why the vast majority of businesses in the U.S. are sole proprietorships. I was also intrigued to learn about how complicated it can be to acquire business licenses. Thankfully, many states offer one-stop online business registration, but this must be completed in order to legally proceed. After all is said and done, it may cost a couple hundred dollars annually to receive the proper licences required for a small business.
Additionally, I acquired a host and a domain name for my business this week. It’s about $12/year to buy a domain name, and web hosting services can be anywhere from $4-$15/month depending on how many features I want. I’ve decided to stick with WordPress as my site builder. So far it’s getting the job done, but learning how to truly customize the way I want to will be a learning process. Ultimately, the site is up and running, the product is being demonstrated, and we’ll see what type of traffic I’m able to get. Until next week!