Articles written by Mabel Alarcon Craven

MABEL ALARCON CRAVEN, Center for Rural Affairs|Jul 30, 2025

Many small businesses start as bootstrapped, one-person operations: just you, your idea, and a whole lot of hustle. But as your business grows, so do your responsibilities and risks. You might begin taking on bigger projects, handling more income, or working with contractors and vendors. Once you reach this point, it may be time to consider formalizing your business. Forming a limited liability company, or LLC, is one of the most popular ways to do it. An LLC is the most common business structure among business owners with fewer than 10 employe...