Thursday
May212009
Starting a Business - A checklist of things to consider.
Thursday, May 21, 2009 at 3:10PM 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.