![]() As with all businesses, there may be licenses and permits required to do businesses, so check your local and state authorities. If you are a sole owner doing business, then you are automatically a sole proprietor. With a sole proprietorship, there is no formal structure to establish. You are entitled to all profits and are liable for all debt, losses and liabilities. This is an unincorporated business with no legal distinction between the owner and the business entity. Sole ProprietorĪ very popular choice for new firms is the simplest structure sole proprietor. Which Business Structure is Best for An Architecture Firm?Īs architects, there are five basic business structures from which to choose. The business structure we choose will have significant legal and tax implications. When we decide to start our own firm, we need to make several critical decisions. One of the most important decisions we’ll need to make is which business structure best fits our new firm. We needed a name that was a bit more personal, so we launched our brand, Fivecat Studio. McCarthy LePage Architects sounds very professional, but we do things differently. We knew from day one that we needed a way to differentiate ourselves from the many other local firms. Slowly, we grew the firm and in 2002, with my license in hand, we incorporated as McCarthy LePage Architects, PC. With no clients and no money, we launched the firm as a sole proprietorship Annmarie McCarthy, Architect. My firm, Fivecat Studio, was founded in 1999.
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