| If you are new to starting a small business, | | | | maintained with a greater amount of |
| then you have likely begun to discover that | | | | recordkeeping. These are a couple of items |
| there are several steps necessary to starting | | | | that you will want to consider before |
| a new business that has to happen before you | | | | selecting a type of incorporation that will |
| ever provide a product or service to a | | | | best meet your needs. |
| customer. You might be at the point where | | | | |
| you have written a business plan that | | | | There are four basic types of incorporation: |
| outlines the objectives of your business, and | | | | the LLC, or limited liability company, the |
| perhaps you have obtained start-up funds | | | | S-Corporation, the C-Corporation, and the |
| through your own savings or loans to help | | | | non-profit corporation. The LLC requires the |
| begin to get the new business off the ground. | | | | least amount of paperwork as compared to the |
| | | | others, but it is limited in certain benefits |
| At these beginning stages of forming a new | | | | that the others are not. You will want to |
| business, you will want to consider what it | | | | hire a service that will complete and file |
| takes to incorporate business. While many | | | | your articles of formation for your company. |
| new small businesses begin as sole | | | | |
| proprietorships, the problem with this form | | | | If you are doing business under a name other |
| of business is that if sued, your personal | | | | than your own, then you will also need to |
| assets become at risk to pay off your | | | | register with your secretary of state your |
| business debts. This is a big reason why | | | | DBA, or Doing Business As name. If you will |
| incorporation becomes attractive to the | | | | conduct business in states other than the one |
| business owner, because it protects your | | | | in which you reside, then you will want to |
| personal assets should your business get | | | | think about finding a Registered Agent, who |
| sued. To ease this process there are several | | | | will represent you in these other states if |
| services on the Internet that can help you | | | | legal documents are sent to you. |
| incorporate online or to form an LLC. | | | | |
| Although you can get assistance from a lawyer | | | | You may need to obtain a trademark for your |
| or accountant to help you set up your | | | | business, which must be patented. If your |
| corporation, those options are sometimes out | | | | business will hire employees, then you will |
| of a new business owner's price range. The | | | | also need to get a Federal Employer |
| cost-effective and easy solution is | | | | Identification Number, and obtain a business |
| incorporating online. | | | | license and pay the fees for each state in |
| | | | which you wish to conduct business. |
| An online incorporation service can help you | | | | |
| decide which type of business format is right | | | | With this myriad of details to keep track of |
| for your particular business and needs. Some | | | | when you want to incorporate, business owners |
| require more people to be involved in your | | | | often turn to online incorporation services |
| business than others, and some must be | | | | for the ease of incorporating online. |