If you're currently exploring different opportunities to make money online, you may be thinking: “Do you need a business to sell online?”
Recently I got this question from a follower of Project Life Mastery. I decided to answer the question in this episode of #AskStefan, which was “Do you need a business license to start selling full-time online?”
You can find a more detailed answer below in the video. However, the short answer is no. In most countries, you don't need to set up a corporation or a LLC to start selling online. Instead, you can start selling online as a sole proprietor, which basically means you're operating under yourself. This means that any money that you earn online will get deposited to your own personal bank account and everything will be under your own name.
It's always best to consult with an accountant or lawyer for what is right based on your own circumstances, since everyone is different and laws may differ depending on where you live in the world.
There's also some risks, as well as pro's and con's to be aware of when deciding to set up a corporation or operate as a sole proprietor. I explain those in the video below…
Watch the video below:
(Click here to watch on YouTube)
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