Ask HN: Is it advisable to register a company to run side projects?
I'm new to running potentially income generating independent side projects. I have a day job and don't plan on running my side side project as a company full time. However, I have observed that most hackers run their side projects under an umbrella company of some sort. I wanted to know if it is worth paying incorporation and paperwork fees to layers for this. Further, in the scenario that registering a company is a better choice, what are the options available to make this process easier. So far, I'm thinking along the lines of using Clerky. Are they any good ?
2 comments
[ 2.0 ms ] story [ 15.3 ms ] thread2. I assume your side projects will probably not generate a lot of money. Most side projects fail. (That's a feature, not a bug).
3. Don't spend money until you absolutely must. Money is energy stored in rectangular pieces of paper. Save your energy.
4. Don't spray your attention all over creation. Focus on one thing -- your side project. Unless your side project is named "ClerkyKiller" :-) do not focus on company formation.
5. You have nooooo idea how much extra work and annoyance you will endure as soon as you touch the legal and tax paperwork system. Stay as far away from it as you can, for as long as you can.
I am a lawyer and I approve this message. :-)