5 Business Startup Tips
Choose a business structure
Decide the structure that is right for you. Do you want to operate a sole proprietorship, corporation, joint venture or partnership?
Register your Business
If you choose to be a sole proprietor, you may want to register a business name. If you choose a corporation, you need to incorporate. If you choose a partnership or joint venture structure, you may need to draw up a partnership or joint venture agreement.
Upon incorporation, you will need to appoint officers, directors and issue shares. The owner could be the sole officer, director and shareholder. If you have more than one shareholder, create a shareholders’ agreement.
Open a separate business bank account
Whether you choose a corporation or sole proprietorship, you require a separate bank account for your business.
Business owners may get funding from financial institutions or other sources – personal investment, family and friends, angel investors, venture capitalists or loans.
Rent or buy a business space
If you choose to rent a space, you may need to sign a commercial lease. You may want to review your commercial lease with a professional before signing it.
Contact the business lawyers at Rabideau Law today to help guide you when structuring your business.
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The blog published by Rabideau Law is intended as general information only and does not serve as legal advice. By viewing the blog posts, the reader understands there is no solicitor-client relationship established. Readers are urged to consult the business and corporate lawyers at Rabideau Law on business related concerns.