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How to Put Personal Money into Your Startup In 6 Steps

The Startup Magazine

It is estimated that at least 80% of all startups rely on personal funds from their founders for operations, albeit in their formative stages. A limited liability company status, for instance, will protect you from your business’s legal hurdles and their costs too. Set up a legal entity for your business.

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13 Critical Small Business Legal Requirements to Start a Business

Up and Running

Limited liability company (LLC) – A structure that combines the characteristics of both corporations and partnerships. It protects owners from their debts or liabilities, and each owner has to include a share of the profits/losses in their personal tax returns. Develop a founders agreement.

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Even Social Entrepreneurs Need Profit to Meet Goals

Startup Professionals Musings

Delivering social value always costs money. Obviously all founders wants to minimize their taxes, yet the initial setup for non-profits is bureaucratic, takes up to two years of time, and costs thousands. For comparison, I was able to set up a simple for-profit Limited Liability Company (LLC) in a month for less than $100.

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Vlad Rigenco’s Tips for Launching a Successful Startup

The Startup Magazine

According to Founder and CEO of Dood Inc., You will need to plan for your business site and determine how much this will cost. You may want to choose from sole proprietorships, partnerships, limited liability companies, or corporations. It is best that you speak with a business attorney before taking this step.

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How To Start A Business The Right Way

The Startup Magazine

Your value proposition has to be such that it is difficult or costly, or both, for your customers to shift to another company. You can search for co-founders who will contribute with capital, or skills, and share profits and equity with them. The Limited Liability Company (LLC) is a business structure permitted under state statute.

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What Type Of Insurance Does Your Business Need?

YoungUpstarts

In this type of business, the combination of raw materials, labor, and overhead cost in its production process before the outcome products are then sold to wholesalers, retailers, and consumers. The owner of the company encounters unlimited liabilities. Hence, there’s a reproduction process of the purchased products.

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What to Do If Your Accountant Makes an Error

Up and Running

Paying a professional can have benefits that far outweigh the added costs. When putting together a business plan, an accountant can help you to prepare financial statements such as startup budget and costs, projected profit and loss statements, and sources and uses of funds. Suing isn’t always the first, best, or only course of action.