Key Decisions to Consider Before Starting a Business

So you’ve decided to start a business. What type of business structure is best for you? You have many choices. If on your own, you can be a sole proprietor. However, you should also consider various types of business entities: You can form a limited liability company, even if you are the only member. You can form a corporation. If you are starting the company with others, you could also form a partnership – general or limited. How to choose?

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Start Your New Business on the Right Foot: A Handshake Isn’t Sufficient!

Have you ever heard about the friends who went into business? If they had given more thought to their future business relationship and had the proper agreement drafted, could things have worked out differently? When “partners” decide to go into business, excited about a new prospect, they often jump in; they’ve given a lot of thought to what the business will be, what they’ll produce, or what services they’ll provide. But they put very little thought into the structure of their business relationship. This can prove especially true if they are starting the business with friends, colleagues or family.

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