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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Jan 25, 2018

In episode 11 of Financially Simple, Justin talks about the different types of business entities and why they matter.

In Business, the type of business structure you own matters, whether it be a corporation or Sole Proprietorship. Knowing which type of entity fits your business will help with the management and legal aspects of the business, especially when it comes to selling. Justin considers the different types of entities, the pros and cons, and how to go about formalizing your business as an entity.

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TRANSCRIPTTypes of Business Entities Affect Long-Term Sellability – Post #11



00:34 - What type of Entity should I choose?

00:57 - When planning to sell, being the right Entity matters

04:06 - The 4 basic types of Entities

05:04 - Advantages & Disadvantages of each type

06:40 - Transference of Stock

07:30 - Flexibility

08:50 - Tax Benefits

09:25 - Documentation

13:20 - Have an awesome Team

14:55 - Summary

For more in-depth reading about this podcast series, pick up a copy of Justin's new book: The Ultimate Sale



Financially Simple –



Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.