The most common business types are: sole proprietor, partnership, joint venture, limited liability corporation, and general partnership. Sole proprietor. You do not have to legally establish a separate legal entity for your photography business. In this scenario, you work as an independent contractor. This can be a great way to get started on your own without needing to hire an accountant to prepare the necessary documents. This is especially so if you are just starting out with a limited budget or are interested in photography as an art form, rather than just another “day job.”
Sole proprietorships. A sole proprietor is a business that involves one person. In most cases, this person owns the business. In other words, the owner of a photo business is the individual or entity that does all the work. The person in charge of managing the business may be the photographer, or the manager. This type of business is best suited for those who can afford to work full time but would prefer not to become a full-time employee, or who wish to operate their own business.
Limited liability company. A limited liability company (LLC) is a special kind of partnership. When two or more business owners combine their resources, they become one entity. This is a great way to establish your own business, with all the privacy and financial freedom it affords, yet still protect your interests should problems arise.