Nature Photography Business Tip #5

I set up my business as a sole proprietorship. If you know a personal accountant, obtain advice on what is best for you; some businesses incorporate (Inc.) or become a limited liability corporation (LLC). The sole proprietorship is the easiest to set up (since all you need is your DBA and a bank account), but offers the least protection from a lawsuit, which can take your personal property if you lose a case. Incorporating will help protect your personal assets.

I personally don’t know any nature photographers who are incorporated (not to say that they don’t exist, just that I don’t know any). Some carry liability insurance for their workshops and feel that is enough protection, and I don’t know anyone who has been sued from selling a print. Each individual has to consider their personal comfort level when making these business decisions. I am not giving legal advice, so consult an accountant or a lawyer to advise you on the best options. Watch for Tip #6.