You may have a wonderful idea for a business but not be sure where to start, or you might have started as a sole proprietor and wish to change to a more suitable business structure. Whatever the situation is, it's a good idea to look into your options with the help of a business or commercial attorney.
While there are some steps to creating a business that you can easily do on your own, you shouldn't skimp when it comes to setting up your business entity, creating contracts or setting up your legal protections.
With over 28 million small businesses in the United States, you're not alone in wanting to take on your own challenges and to create a name for yourself. Your business attorney's job is to help you do that and to make sure you're protected against lawsuits and claims. Only around two-thirds of small businesses last two years and half survive five. If you decide that opening your business is right for you, then getting the right legal help could make the difference between staying open for the long term or shutting your doors before you've barely begun.
When you start a business, you need to have a business plan. This is your blueprint for the way your business will be run. If you want to ask for financial support, you'll need this business plan to show to investors. From there, you'll need to plan your finances and choose your business structure. The structure is perhaps one of the most important parts of the start-up of your business, since the structure you choose impacts taxes, liability and other factors.
Our site has more on business law and starting a business. Protect yourself early, so you know you're taking the steps you need to take to create a lasting business.