There are several benefits to incorporating a business:
Limited Liability: Incorporation protects the personal assets of the owners from business debts and liabilities. Credibility: Incorporated businesses often have more credibility with customers, suppliers, and investors. Tax Advantages: Corporations may be eligible for certain tax deductions and benefits not available to sole proprietorships or partnerships. Perpetual Existence: The business can continue to exist independently of its owners, facilitating easier transfer of ownership. Access to Capital: Corporations can raise capital through the sale of stocks and bonds.