A sole proprietorship is a preferred business formation for many people in the Cedar Rapids area as owners retain more hands-on control of the company and its day-to-day activities. However, there are some potential drawbacks that should be considered prior to forming such a business, including a potentially smaller profit margin, increased difficulty getting loans, and higher liability.
If you are thinking of creating a sole proprietorship in Cedar Rapids, get the attorneys from [firm-name] to walk you through the formation process and the nuances of such a company. Contact our offices today by calling us at [phone-number], and we can answer all of your questions.