article thumbnail

13 Critical Small Business Legal Requirements to Start a Business

Up and Running

Not only do these requirements ensure that businesses operate within the law but it also protects small business owners and their consumers. . A small business is an independently owned and operated entity that engages in commercial activity and fulfills the set industry-specific size standards. Register your business name.

article thumbnail

Why Entrepreneurs Must Learn to Love Paperwork  

The Startup Magazine

There will be plenty of it early and often during your entrepreneurial journey, but rather than look at it as a headache you should consider the many ways in which it will help protect you, your family, and the company as a whole. Personal asset liability protection is not ironclad. You must abide by your operating agreement.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Much Does it Cost to Form an LLC? A Guide For Startups

The Startup Magazine

If you are looking to set up a limited liability company using the least expensive method, you can take this route. LLC Name Reservation. Choosing the right name for your business is not always a walk in the park. Operating Agreement. Well, there is no state fee for finding the right name for your LLC.

LLC 110
article thumbnail

How To Start Your Own Small Business In 7 Easy Steps

YoungUpstarts

Choose a Name for Your Business. Every business needs a catchy and memorable name so that you stick in the mind of potential customers. You need to make sure that your name is somehow related to who you are or what you do as you want it to be clear what your business is about. Pick a Location. Check Licenses and Requirements.

article thumbnail

Why set up a limited company in Hong Kong?

The Startup Magazine

Simple company registration requirements: Hong Kong company formation services are relatively simple. The basic requirements for Hong Kong business incorporation: confirm the company name and structure; confirm the details.

article thumbnail

Corporation or LLC? Business Organizations for Tech Startups.

YoungUpstarts

One of the first actions you will take with your startup is to organize your company a separate legal entity to protect yourself from personal liability for the company’s debts. In the tech startup context, you’ll typically choose between a Corporation and a Limited Liability Company (“LLC”). Verdict : LLC.

LLC 100
article thumbnail

How A Single-Member Company Works

The Startup Magazine

Single-member companies or single-member limited liability companies (SMLLCs) are becoming more popular within the United States. The IRS mentions that an SMLLC only has one owner and is an entity registered to do business where a particular company operates. Is a Single-Member LLC Worth it?