How to Setup a Business

BE SMART-UNDERSTAND THE LAW

By: J. Ben Moore

The great challenge in setting up a business is taking that great idea and making it a reality. All too often an idea never gets going because you get stuck on how to get to the next step. Creating a business is easy, working at it and making it a success is far more difficult.

How do I start my business?

You must decide on what you want to do and see what competition is in you business area. Sit down with a lawyer and/or an accountant to determine how much money you will need to get your new business of the ground and running. Most likely they will work with you on a business plan that maps out the different aspects of your business and financial needs.

What kind of business entity should I form?

There are numerous type of business entities, from an LLC, Close Corporation, Partnership, Sole Proprietorship to name a few. Each has their own advantages and disadvantages. Your attorney and accountant will look at your business and propose the best business type for you.

How to select a name?

You can do a national check on registered names and trademarks. You can also call your local state corporations office and check name availability. Many states are now on the internet and you see if your business name is available.

Do I need insurance?

The safest thing anyone can do is have business insurance. It can provide you with a wide variety of coverage that can protect you and your personal assets from possible attachment in case you suffer and injury or sued for damages.

BELLI, WEIL, GROZBEAN & DAVIS, LLP serves the State of Georgia, Washington, D.C. and clients across the Nation. Georgia lawyers are also licensed in the District of Columbia, Florida and Montana. Our Law firm works with lawyers across the country to provide the very best representation for our clients.

ATLANTA-WASHINGTON, DC-SAN FRANCISCO

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