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Tips to consider when starting your own business

Your dream has been to start your own business. Now the time is finally here, but where do you start? Starting your business can seem overwhelming. You will need to research legal issues and develop a business plan that addresses how you will achieve your goals.

Your business plan and goals should be tailored to your business style, your industry and your potential clients. To help you get started, below is a list of steps to take when first starting your business in California:

  • Incorporate your business: You will need to register your business in California and create a legal record for your business stating the structure, responsible parties and what your business intends to achieve. You can incorporate your business as an LLC, S-corp, C-corp or as a nonprofit.
  • Consider a non disclosure agreement: A non disclosure agreement can protect your business ideas. It may be in your best interests to have potential investors sign an agreement before you discuss any details of your business and your business plan.
  • File for copyright, trademark or patent protection: Intellectual property protections can protect your invention or service and help you stay competitive with other businesses.
  • Discuss tax issues: Do not forget to talk about business tax issues before it's too late. Proper bookkeeping and accounting is vital to keep your business running. You should consider talking to an accountant or tax lawyer to help you create a plan.
  • Hire an attorney: Legal issues are likely to pop up once your business is up and running. A lawyer can provide advice to protect you and your business.

These tips can help you understand what issues you may face after starting your business and how to properly plan for a successful future. The success of your business depends on many factors. Learning about what steps to take now before a potential problem happens will give your business a better chance of success now and in the future.

3 Comments

Business registration is important as stated in the article, because it gives the business benefits of choosing which structure to pursue based on what would best suit it.

Your suggestion to hire an attorney was really smart. It's better to be prepared in case you need an attorney then to have to find one after an avoidable issue has arisen. It may be helpful to find an attorney that can help protect your business as well as defend it if necessary.

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