Business Planning & Entity Formation
In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business, but you can improve your chances of success with good planning, preparation, and insight. When starting a new business, there are many important decisions to make and many rules and procedures that must be addressed. Normally, it is recommended to begin with a business plan. A business plan is a blueprint of every aspect of your business. Sales, marketing, advertising, promotion, and location are just some of the aspects of creating a plan.
Next, choosing the most suitable entity for your business enterprise is critical for entrepreneurs and startups. There are many factors affecting how a business is organized. The first consideration is the size and scope of the business, and its anticipated management and ownership. A smaller business is more flexible than larger businesses or those with wider ownership or more formal structures. In addition a business which wishes to raise money on a stock market or to be owned by a wide range of people will often be required to adopt a specific legal form to do so. In many jurisdictions, certain businesses are legally obliged to be organized in certain ways. Limitations on personal liability are also a drivng factor in choosing a particular business form such as corporations and limited liability companies that can protect their owners' personal assets from business liabilities. Also, different business entities are treated differently in tax law, and may have advantages for this reason. Disclosure and compliance requirements are also another consideration. Different business structures may be required to make more or less information public (or reported to relevant authorities), and may be bound to comply with different rules and regulations.
How We Serve Our Clients
At the Wenger law firm, our attorneys will guide you through the process of determining the proper business entity, whether it is a sole proprietorship, partnership, limited liability company, corporation, or some other formation. Additionally, we can assist you with general business matters in establishing your organization, such as working with you to draft a business plan, which may be an indispensable tool in attracting investors. Our services also include assisting you with obtaining business or professional licenses, registering fictitious business names, obtaining an employer identification number, and more. No matter what your business needs, our experienced professionals can assist you in establishing and organizing your new company.
