Business Startup

design4webdesign4web Posts: 6subscriber
edited January 2009 in Business Planning
I have been offering web design and graphic services for the past few months and been a designer since around 2003. I am getting everything set up as a company name since I am getting a lot of clients and starting to outsource my work to other companies.
How I currently have got new clients:
Craigslist ads through out the United States for affordable and professional services.
I am also expanding my current offerings.
How my craigslist profits to save my family became a true business?
Great Support
Marketing to small and medium businesses
Cost Effective Solutions
I am certified in web development however never really pictured my self offering services except for my self and ecommerce business I wanted to start.
I am not here to sell craigslist services if that is what it is starting to sound like "seen these threads a lot" but asking for advice.
Because I offer professional services what type of business formation would be best? Or does it not really matter except for personal preference? I am somewhat knowledgable about LLCs and like the way they are set up. Would that provide enough liability protection if offering services though?
I will be offering a wide array of services and currently establishing a team located through out the United States to work for me.
Portfolio is currently not live and has never been which is why I know I have what it takes if I am getting so many clients in a short period of time with out a portfolio.
My company will be run more as a company "sort of like GoDaddy" but with a twist and different services and a wider selection.
Also, how can I find good reliable and trustworthy accountants locally who will truely offer what is best for me and the company?
I am using my new laptop which was purchased to show new clients some work if they live locally so I appologize if I have any typo errors.
Thanks!

Comments

  • design4webdesign4web Posts: 6subscriber
    Thanks Craig, I actually visit my area Chamber of commerce, score and sba. Still wanted some advice since im new to finding accountants. "actually everything, lol" Thanks!design4web1/17/2009 5:06 AM
  • MattThomasMattThomas Posts: 2subscriber
    From my understanding, if you can file for an S-CORP, that would be your best bet. You get all the benefits of being a corporation (limited liability, ease of funding and exchange of ownership through selling shares, etc...) while also avoiding double taxation. I`m not sure if the qualifications vary from state to state, but if you can file for an S-Corp, I suggest you do it.
  • design4webdesign4web Posts: 6subscriber
    Ok, I have a question
    if I sell shares that means I am publicly traded? I am somewhat new to some of the aspects of business formations so if I am wrong I appologize.
  • bigblockjoebigblockjoe Posts: 0subscriber
    LLC, would be better.  You have greater protection. Although the expenses are more than a corporation (ie. LLC yearly fees)
     
    Check out this company also Program Funding Consultants (888)935-5349 they get sba backed microloans to start up and relatively new businesses, they are great.
     
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Ok, I have a question
    if I sell shares that means I am publicly traded? I am somewhat new to some of the aspects of business formations so if I am wrong I apologize.

    NO.  To be a public company- one has to go through a lengthy (and expensive) qualification process.
     
    Business entities can sell securities via a "private placement" -a process which usually requires "proper" documentation.
     
    Which type of business entity you should use - depends upon several factors. Contrary to a previous post, if you plan to raise capital through the sale of securities - I would recommend not using the S corp since it is pretty limiting.
  • MattThomasMattThomas Posts: 2subscriber

    NO.  To be a public company- one has to go through a lengthy (and expensive) qualification process. Business entities can sell securities via a "private placement" -a process which usually requires "proper" documentation. Which type of business entity you should use - depends upon several factors. Contrary to a previous post, if you plan to raise capital through the sale of securities - I would recommend not using the S corp since it is pretty limiting.

    Exactly, shares can be sold privately. That is one of the perks to either type of corporation (C or S). There is a greater ease in changing ownership/raising money. For example, if you were looking to get funding from a Venture Capitalist, they might ask that they purchase a certain amount of shares from you in order to share in the profits. This is a private transaction, but an exchange of shares all the same.MattThomas1/20/2009 1:32 AM
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Matt:
    Just to clarify - ownership interest (as well as other securities) can be sold privately in either LLC or Corporation. The governing regulations and requirements for compliance are the same.
    robertj1/20/2009 2:01 PM
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