Starting a business legitimately

I would strongly suggest that you consult with an attorney who can help you assess your options. There are many questions that need to be asked of you before an attorney can advise you properly. Our firm regularly works with entrepreneurs, and you are welcome to call us and schedule a consultation.

Start a Small Business Written by: Alan James Brinkmeier Attorney licensed in Illinois Establishing the right small business idea helps get you excited about the work and reward that can lie ahead. This simple five-step guide points to the start-up keys any small business must address. Acting in the beginning on these five topics can help lead to your small business start-up success. 1 Form Decide what form your business will take. For that you should properly establish a company or organization type so get an attorney. Get a good lawyer that knows how to advise you on the various business models such as proprietorship, partnership, corporation ( LLP, LLC, S Corp) and non-profit. These forms can all be good and can all have challenges for which you need advice. Each has pros and cons so work those through with your business attorney from the very beginning. 2 Location Decide where you will be. If online make sure you have all that you need. Where you operate will dictate what permit you may need from your village, town or city. Contact your local city or town administrator to make sure you are in compliance with local ordinances and get the proper permit. Nothing can be more disappointing than to do all the other start-up parts only to find that what you want to do is not allowed or permitted in the location you have. Get that piece worked out early. 3 Plan To begin a business start with a plan. Who will your customers be? What will you sell? How? Without proper business planning, you simply will not know if your business is the right one and whether it is headed in the right direction once you launch. What separates successful entrepreneurs from the rest is that they know where to look to find opportunities and how to take advantage. This planning step is very important so get the proper business outline in place. 4 Operation You want to make money. You will have to generate positive cash flow. How will you collect, record and report what you make? Contact an accountant because you will have to pay appropriate tax on what you sell. Local tax, state tax, federal tax will all need to be reported so get the framework in place at the start. The IRS can be a resource and will be on the reporting end of what your business brings in, too. 5 Work Turn on the lights, get out the pencil and get to work. You are operating a small business. Good luck and here is hoping you the best of success. Contact to hire me if you would like. Alan Brinkmeier www.brinkmeierlaw.com