Choosing the correct entity for your new company will be one of the most critical business decisions you will make. Should your business be run as a corporation, an LLC, a partnership or something else? What are the differences, and which one will work best for you?
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Succession Planning is a process designed to help you prepare for a possible change in leadership or ownership, such as a key employee leaving your business, an owner/operator passing away or the sale of the business. With careful planning, the remaining owners and employees will be able to make quick changes within the business to help it continue to run smoothly.
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So you have formed your business entity and found some funding. Now, you’re ready to hire your first employee. Before you leap into becoming an employer, however, there are certain requirements you should be aware of in order to comply with the law.
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When starting your business, you’ll want to ensure you have adequate funding to help pay for any expenditures. By understanding what type of funding is available to you and the potential advantages, you will be able to make the best choice for your business. Funding options that you may want to consider include loans or investments from friends and family, bank loans, angel investors, and venture capital funds.
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