| Congratulations on the decision to run your own | | | | as possible.An attorney should be able to assist you |
| business. As exciting as it is, there are so many things | | | | with labor laws for minors and illegal aliens, as well as |
| you need to be aware of. One of the biggest | | | | safety rules, business licenses, building codes, permits |
| decisions is of course if you decide to have a partner, | | | | for remodeling, zoning laws and health department |
| or more than one partner. There are pros and cons | | | | regulations.You'll want an certified accountant to help |
| for what ever you decide. You just want to make | | | | you file your income tax returns, franchise tax returns, |
| sure what you decide is best for you. Make sure you | | | | employment tax returns, the time for payment of |
| are compatible with this person, that you two share in | | | | withheld and employers share of employment taxes, |
| the same business way of thought and doing things.To | | | | as well as unemployment tax returns and payment. |
| decide if you need a partner make a 'for' and 'against' | | | | You will also need an accountant to help you set up |
| list. This makes it very easy for you to see the pros | | | | books and records of the business and advise on |
| and cons, and to weigh the difference. After all, this is | | | | computer software needs for accounting of the |
| one of the biggest decisions you will make before you | | | | business you will need to do yourself.If you are |
| even open the doors.The most common reasons for | | | | concerned with payroll, contact a payroll service |
| having a partner are: There is safety in numbers. You | | | | provider listed in the yellow pages. They also help with |
| have someone else to talk things over with and two | | | | managing retirement plans, workers compensation |
| heads to decide if the decision you are making is best | | | | insurance and pension plans.Some local licenses and |
| for your business. You'll have someone to share the | | | | permits will be required. You may need a zoning |
| work days and hours with. This will bring you peace of | | | | compliance permit before you can open your business. |
| mind for the days you are sick, or you have to be | | | | Make sure the space you rent is zoned for your type |
| somewhere else. And of course one of the main | | | | of business. You also may need a special license if |
| reasons is they can help with capitol, and all of the | | | | you're conducting business out of your house, a |
| risks won't fall only on you and your pocket. Some | | | | beauty salon, for example.Certain types of businesses |
| arguments against having a partner are, you have to | | | | require state licenses, such as accountants, |
| agree on all decisions - so if there is something you | | | | cosmetologists, etc...Your state may require special |
| wish to bring into the business and your partner is | | | | licenses if you sell firearms, gasoline, liquor, lottery |
| against it, you two will have to come to an agreement. | | | | tickets, etc...A very small amount of businesses will |
| A partner can be a disaster if his or her judgment is | | | | require federal licenses, examples include broadcasting, |
| not good. You run the risk of a falling out and perhaps | | | | ground transportation, alcohol, tobacco or firearms |
| the necessity of one partner buying the other out, if | | | | sales.Check with your city clerk to tell you where to go |
| you do not get along. Decide if you have similar work | | | | to obtain certain licenses.If you're working from home, |
| habits, similar objectives concerning how to run the | | | | investigate local zoning ordinances covering home |
| business and whether your strong points are similar or | | | | based businesses. Some neighborhoods have strict |
| complimentary. Both of you also need to discuss | | | | zoning restrictions that may prevent you from doing |
| whether you should have a buy-sell agreement in the | | | | business out of your home. Yet, it may be possible to |
| event of a disagreement. At this time, the decision of | | | | get a variance or conditional-use permit.Part three will |
| how the purchaser will pay for the portion of business | | | | discuss certain forms you will need to keep a close |
| he or she is buying.Now you'll want to hire a few | | | | eye on your business assets.References from My |
| professionals to help you start up your business legally, | | | | Business CourseThis article has been submitted in |
| and will allow you to run it smoothly with at least stress | | | | affiliation with which is a site for Fax Machines. |