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Business Formation & Planning Archives

A brief look at three benefits of forming a business partnership

A large part of the business formation and planning process involves making decisions about your new endeavor. Examples of crucial decisions include choosing a location for your headquarters and deciding how to brand your company to make the greatest impact on consumers. Deciding how to structure a new business is also an area of business formation and planning that requires careful consideration.

What are some pros and cons of forming a corporation?

One of the first decisions you will make during business formation and planning is choosing a structure for your enterprise. Common business structures include Limited Liability Company (LLC), partnerships and corporations. This post will discuss corporations so that you can get a head start on learning about business structures.

Find the right investors for your new business

Recently in our blog, we featured a post discussing how to acquire venture capital for new Minnesota businesses. We wanted to take this opportunity to talk further on this subject, particularly on how you can make certain you find the right investor or investors for a startup. As you may already know, this is a critical step for those in the midst of business formation and planning.

How can new startups acquire venture capital to get started?

All successful Minnesota business ventures start with a great idea. Some people may have enough money to fund the expenses involved in business formation and planning. However, it is safe to say that most people do not possess enough money to get a business started. These entrepreneurs will likely need investors and assistance as they plan and develop a successful startup company.

What are the pros and cons of a limited liability company?

An important task associated with business formation and planning in Minnesota involves choosing the proper legal structure for your startup. Options to choose from include sole proprietorship, partnership, nonprofit, corporation and limited liability company. As is the case with most business decisions, each of these options has unique advantages and disadvantages.

Minimizing your risk during business formation

As soon as you start addressing the many tasks associated with business formation, you begin to take on risk. Examples typically include financial, human and legal risk. Unfortunately, it is impossible to start a new business without at least some risk. However, you can take steps to minimize potential problems.

What legal issues might new businesses face?

Becoming a business owner is the dream of many Minnesota residents. However, without proper business formation and planning practices, there is a real chance that entrepreneurs might fail in their efforts. Looking at the legal landscape is a large part of good business planning, but it is difficult for some to see past their dreams of entrepreneurial success.

Growing your business: 3 important steps

As your business becomes more popular and gains more customers, you may want to begin planning expansions and ways to grow. There are several steps to growing your business in a safe manner. If you grow too quickly, you risk investing more than you can make back and may end up in bankruptcy or shutting down completely.

Buying out a partner? Don't make these mistakes

If you run a business, one of the things you might be interested in doing is buying out your partner. Maybe the partner isn't interested in continuing on, or you would prefer to take over as the sole owner. Either way, you'll need to look into buying out your partner.

Start your business right with these first 2 steps

Forming a business may have been a dream for you since you were young, and it's important that you get the start you need to get your business moving and growing. The U.S. Small Business Administration (SBA) loves to see entrepreneurs start their businesses and it published 10 steps to start your business the right way.