How to Structure Your Business?
- What will my business liabilities look like?
- What will my tax liabilities look like?
- How flexible are your business needs? Who’s making the decision for the needs?
- What is the likelihood your company will get sued?
- Do you expect to operate at a loss in the first few years?
- Will you invest any profits back into your business?
- Will you crowdfund or make attempts to raise money in the first few years?
- Are you committed to a social mission?
- Do you find answering these questions too difficult?
After reading these questions, do you feel a bit overwhelmed? Deciding how to structure your business takes research, time and effort. Consider seeking professional help. You can contact a small business consulting firm or agency like the SBA. You may contact an accountant (CPA) or tax professional. There are attorneys working with small businesses who can also offer advice.