A Partnership is the joining of one or more individuals, corporations or other entities into and under a partnership agreement. Its chief advantage is that the income and expenses of the business are divided among the partners according to their proportion of ownership. This means the entire load is not on your shoulders alone [...]
Read the rest of this entry »Sole Proprietorship
The Sole Proprietorship is a business owned by a single individual or married couple. It has the advantage of being easy and inexpensive to start. In addition, it gives the owner great freedom of operation – you can do whatever you want with no input from partners, members, or shareholders. The primary disadvantage is that you, [...]
Read the rest of this entry »Organizing Your Business
A fter creating your business plan, your next step is selecting the business structure under which you will operate. As your idea begins to come together, your first thought may be what’s to decide? It’s going to be my business, so I’m the owner, right? That’s true enough, but as we’ve already pointed out, the [...]
Read the rest of this entry »Developing Your Business Plan
Okay, you’ve made the big decision to make the plunge. Now it’s time to start putting your American dream of business ownership into action. What is the plan? Unbelievably, there are people in twenty-first century America who actually go into business with little or no planning. (They are the ones you’re likely to read about [...]
Read the rest of this entry »Legal Restrictions/Requirements of Business Names
Sole Proprietorship and Partnerships – Most states require any person or business entity doing business in the state under a name other than their own “true name” to register that business by filing a “Fictitious Name Registration.” (A name is generally considered “fictitious” unless it contains the last name and a first name of the owner [...]
Read the rest of this entry »Naming Your Business
Deciding on your business name is one of the most important things you will do in starting your new company. Your name represents the image of your business, and you want that image conveyed clearly and consistently to your customers. Selecting the right business name is like planting a seed in fertile soil and watching it [...]
Read the rest of this entry »The American Dream
Building a business of your own has always been the American dream. However, how do you get started? Is this the right time? Where do you get the money? There is so much to learn. It’s all just too daunting… In The American Dream, you will find step-by-step guides to take you through the seemingly [...]
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