Choosing the right legal structure for your new business can be almost as important as choosing the right business idea. A bad choice can expose you to too much personal risk.
Massachusetts has no shortage of highly educated and skilled people working in the sciences, and many of them have exciting ideas that could be turned into new businesses. Unfortunately, many of these would-be entrepreneurs of science are unable to bring their ideas to fruition because they don't have the cash to get their ideas off the ground.
When launching a new business, entrepreneurs must decide on what structure they want to give the new business entity. Should it be a sole proprietorship, a partnership, an LLC or a corporation? Each format has its own advantages and disadvantages. One popular option for small businesses is the S corporation.
There are stages in the growth and change of a business. From the time a business starts out compared to several years of growth and change, the business can look very different. It may come time for the business to merge with another in its industry or in a similar industry. The process for that business merger may include an intermediary.
So, you've made the decisions to create a business. Maybe this is your first time in this position, or maybe you've started other businesses before. Either way, each new business has a starting point. Early on in the process, you'll want to decide on a business formation plan.
If you are taking the leap and starting a business, congratulations! This is a huge step and a dream for many to own and operate their own business. It may be your first time through this process, or something you have done before. Either way, every business is different and the landscape of business is ever-changing so it's important to stay competitive.
This blog recently took a look at the different business structures and the importance of selecting the best one for your business. There are a few considerations to take into account during the business formation process and this blog will help entrepreneurs and business owners take a look at what those considerations are and answer questions they may have.
When starting a business, one of the most important decisions the entrepreneur will make it what business type they select. There are a variety of different business forms to consider when starting up a business and entrepreneurs should understand the benefits and implications of each.
Selecting the best business form for a business venture is an important decision for any entrepreneur facing it. The selection of a business form has many important implications for the business, as well as the future of the business as it grows and enjoys success. The type of business form selected has important tax and liability implications in addition to how the business will be managed and the routine reporting requirements the business must satisfy.
If you own or are thinking about establishing a small business, you may have concerns about whether you could be held personally liable in the event that someone files a lawsuit against your company. Virtually all small businesses are at risk in some manner or another, and this holds true even if you do not own a business in which the risks are obvious, such as a food-service entity.