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Business Type Options

pbhuterpbhuter subscriber Posts: 2
edited August 2012 in Business Planning
I am looking at starting (another) business and I have some questions about business type. I am aware that there are multiple options for starting a business (sole proprietorship, LLC, corporation, etc.). My business concept cannot be done by me alone (unless I had a lot of time to turnaround for product delivery...).
I would like a sole proprietorship for its simplicity of setting up (do a "DBA" and be done with it), and I would hire consultants/contractors to do the work. I know there are laws governing having contractors and consultants, and I am prepared to research and abide by them.
Or, I could incorporate a business (again) and actually hire people to work for me. The biggest advantage to this is health insurance benefits - as a corporation, I could get a group policy, as a sole proprietorship, I can't. But I'm more responsible for these people (they are my actual employees).
I know there are a lot of other things that I need to worry about, so feel free to comment with suggestions of any kind.
The business concept is aerospace - just so no one feels the need to ask. I don't need to decide on anything until closer to the end of the year, and I am in the very preliminary stages of things. But, it's not to early to start thinking about these things.


  • Options
    stevefridelstevefridel subscriber Posts: 0
    There are many types of business available and also develop some different business. you have to select your business type and manage your business. I think that is best way to manage your buy business for related to your product.
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    andrewthomusandrewthomus subscriber Posts: 1
    You can start your business with the help of franchise management. Franchise is the demand of the market so many businesses have opted this technique. It is a good technique with little risk and more profit at low investments. So it will be beneficial for you a starting level. Use the concepts of the businesses which are already settled in this category.
    Corporate Franchise Tips
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    dducdduc subscriber Posts: 0
    I would go with LLC. LLCs typically do not pay taxes at the business level and face fewer restrictions on who can own the business. LLCs can also help to establish higher credibility for your business
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