![]() Partnership – A partnership simply refers to the sharing of ownership between two or more people. ![]() government agency focused on supporting small businesses Go to source This option can be attractive for a small business due to its ease of formation, and due to the complete control it provides. As a result, all profits, losses, debts and deeds of the business are your responsibility. Sole proprietorship – A sole proprietorship is owned and run by one person, and there is no legal separation between the individual and the business.If you are considering another legal structure, you may wish to consult a lawyer who specializes in new business start-ups and who can help you pick the structure best for you. Most small businesses are sole proprietorships that are the easiest to set up and require the least paperwork. This will have implications for how you file taxes and how much you will need to pay. A financial plan: This would outline how you will finance your business, what your expected costs are, and projections as to your revenue.ĭetermine the legal structure of your business.It would include, for example, how you plan to develop the product, a timeline, and people and equipment required. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |