LLC stands for limited liability company. LLCs are popular for small businesses because they offer a number of advantages over other types of businesses.
For example, an LLC can operate as a single entity, which can make it easier to manage and organize. Additionally, because an LLC is a separate legal entity, it can protect the business from personal bankruptcy.
However, an LLC is not perfect for all businesses. For example, an LLC cannot issue stock, which can be useful for companies that want to raise money through equity investment.
Additionally, an LLC must comply with many different tax regulations, which can be difficult to manage. Finally, an LLC is not immune to legal disputes; if one of the members of the LLC does not comply with the agreement, the entire business may be subject to litigation.
Overall, however, LLCs are a popular choice for small businesses because they offer a number of advantages over other types of businesses.