Are You Looking to Start a Business?
Opening and owning a business is an exciting and scary idea. You are faced with lots of new decisions and choices to make, many in areas that you don't have experience in. During this thrill and excitement period, having an experienced business formation attorney can be a real comfort.
Having a methodical plan of action is a good step to insure your dream of owning your own business is successful. The Ahmad Law Group can help you avoid many of the common pitfalls that new business owners face when they start their new venture. We advise clients in forming business entities and assist them in defining the rights and relationships of owners.
Our guidelines to starting a new business:
- Create an initial business plan to clarify your marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources if needed.
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
- Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required state and local licenses and permits.
- Prepare and file your application for your Federal Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on your first employee.
- Comply with employment laws so you don't get hit with fines and unhappy employees.
- Identify your business insurance needs.
Our experience representing clients across a diverse range of industries during business formation permits us to offer practical counseling with a keen focus on the business’ bottom line.
The Ahmad Law Group has experience with corporate entities as well as with alternative entities such as partnerships, limited liability companies and limited liability limited partnerships.
Before you start your new business, call our offices at 858.481.5606