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Business structure for dummies

One of the more stimulating exercises facing the budding entrepreneur is deciding upon the structure for her new business venture. There are important considerations of cost, liability and brand protection, and tax to be addressed. There are also the needs of family, partners, financial backers, and employees to be considered.

So, where to begin the task?

Remember the KISS principle: Keep it Simple, Sheila. There is no need for you to re-invent the wheel, and most attempts to devise unique and novel business structures tend to crash spectacularly. There are really only three recognized forms of business organization available to the fledgling entrepreneur: proprietorship, partnership, and incorporation. …

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[ Read More ] • [ No Comments ] • [ Filed under Chris Green's Legal Basics ] • [ 10/31/09 ]

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