Start A Business
With the current trend in our economy it is predicted that the number of people who plan to start a business in the next few year will grow exponentially. The high rates of unemployment have led more people to the decision that being in business for themselves is far more preferable to trying to find another job that might only last for a short period of time and then be gone like the last one. Many people end up starting a business doing the same thing that they were doing for their previous employer. If you plan to start a business you are by law required to register it and decide what form of company you are going to create. There are many options and while being a sole proprietor may sound good to someone who wants to be in control for their own business, it is not necessarily the best choice from a legal standpoint. When you are the sole proprietor of a business, you are going to be the only one that is held liable for any debts that are incurred.
While you may never have to worry about being sued or running up large amounts of debt depending on the type of business you are in, the risks are not worth the pride that comes with being the sole proprietor. Most legal representatives will tell you that when you start a business, you will need to form some level of corporation in order to protect yourself and your personal assets in case something should happen. If you plan to start a business and incorporate it you need to have a clear understanding o f the different corporate filings so that you make the right choice for your new company. You will need to register a company name that gives your new business its own identity. All business will then be conducted under this name and not under the names of any of the owners, stock holders or board members. You will be able to open bank accounts and establish credit under the company name.
Creating a corporation provides the owner and any stockholders certain levels of legal protection when you start a business. If you are in a service related industry and one of your customers decides to sue you, the only assets that can be taken into account are those listed as belonging to the business. Depending on the type of corporation you decide to create, all personal assets are protected by law. This means that they cannot be touched no matter how much the courts award. There are many laws, rules and regulations involved when you set out to start a business, many people start a business with the right intentions and then find out the hard way that it is not as easy as it looks. At Corporate Nevada you will find a team of experts to help you get your business registered in the state of Nevada no matter where it is located and show you how to form your corporation or LLC properly so that you do not have any legal problems as your business grows.
Entrepreneur's Creed
I do not choose to be a common person.
It is my right to be uncommon.
I seek opportunity -- not security.
I do not wish to be a kept citizen, humbled and dulled by having the state look after me.
I want to take the calculated risk, to dream and to build, to fail and to succeed.
I refuse to barter incentive for a dole;
I prefer the challenges of life to the guaranteed existence: the thrill of fulfillment to the stale calm of Utopia.
I will not trade my freedom for beneficence nor my dignity for a handout.
I will never cower before any earthly master nor bend to any threat.
It is my heritage to stand erect, proud and unafraid: to think and act for myself,
to enjoy the benefit of my creations and to face the world boldly and say:
This I have done. For I am an entrepreneur.
Author unknown
Are You A Commingler?
If you are…there’s only one cure, separation! Always separate your safe assets like cash, intellectual property and stock portfolios, from dangerous assets like autos, heavy equipment, rental real estate, etc. For example, it is better to place expensive equipment critical to operations in an LLC and lease it back to the operating company. If the operating company is sued, the income producing equipment is not at risk of being seized in a judgment. Isolating dangerous assets, such as rental property, from one another is also a wise strategy.
