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    IndianaStartup.com is a site created by Brian Powers as a resource for start-ups, entrepreneurs and small business.  

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    Thursday
    May212009

    Starting a Business - A checklist of things to consider.

    If you are starting a business, there are a number of things you need to consider when you are in start-up mode, beyond what you might normally think of (i.e. the business name, business location, sales and marketing...etc).  From a legal perspective, here are some of the things you should carefully consider with the help of a business start-up attorney:

    • What form of business entity should you choose?  There are multiple entries on this blog dealing with the various forms of entity a start-up can choose from.
    • If there will be multiple owners (i.e. shareholders, partners or members), how will control of the business be structured?  
    • How much and how often will the business owners be paid should the business turn a profit?
    • What record keeping methods will the business employ?
    • Will the business hire employees, contractors, or a mix of the two?
    • What type of liability insurance will the business need?  How much will it need?
    • Will the business enter into a lease for space?  Or will it buy and develop its own real estate?
    • If the business will have employees, will it provide benefits? How will the business handle payroll?
    • What types of banking relationships will be necessary?
    • Will the business need to raise capital?  If so, will it be through debt or private equity?
    • Will any sort of license or permit be required to conduct business?

    These are just a few things that should be considered?  Need help sorting through your start-up business questions?  Contact start-up business attorney Brian V Powers.

     

    Reader Comments (1)

    I thought these points were very interesting. I have my own business but I think this would be useful to those who want to start up their own business.

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