WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options

Business Startup

design4webdesign4web subscriber Posts: 6
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!
· Share on FacebookShare on Twitter Share on Google+

Comments

  • Options
    design4webdesign4web subscriber Posts: 6
    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
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    MattThomasMattThomas subscriber Posts: 2
    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.
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    design4webdesign4web subscriber Posts: 6
    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.
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    bigblockjoebigblockjoe subscriber Posts: 0
    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.
     
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    robertjrobertj subscriber Posts: 0 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.
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    MattThomasMattThomas subscriber Posts: 2

    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
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    robertjrobertj subscriber Posts: 0 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
    · Share on FacebookShare on Twitter Share on Google+
Sign In or Register to comment.