Just some thoughts as to what you need to consider:
First you will need to decide what type of company you
have. Most likely your company will be limited. This means
that you own all liability for legal issues and debts,
usually of the amount that you originally invested. You can
start an unlimited company but it doesn't really offer any
extra benefits, it just means that there is more legal risk
involved.
You need to choose between public and private companies. A
private company would be all and only by people who started
it and can be any size. A public company is one that can be
traded publicly, that could be listed on the stock market.
Your best bet if you are starting your own small company it
sould be a limited liability company (LLC).
There are legal requirements involved with starting a new
company. In most countries you must be over 18 or able to
enter into contracts. You also cannot be bankrupt, or have
been disqualified from being a director of a company.
There will also be fees included in the process while
setting up your company. The fees will include getting your
company name registered, taxes, a business license in some
locations, be sure to check in your area or any
requirements to make your business legal.
Before you start any of this is a good idea to get in
contact with the Small Business Administration or similar
company in your country. You will want to get all the
necessary forms you need to start a business. It is also a
good idea to check with a lawyer for advice on any legal
matters that will need to be taken care of with the kind of
company you are starting.
These are just few of the things you will want to check in to. Hope that helps.
droberts2 | Window Shopper | 2/12/2011 - 10:06 pm
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