” It provides you direction as you make decisions that will impact the future of your business.Your business description provides the “who, what, when, where” of your business, including ownership, the type of business, start date, and the location.Below is a list of organizations that can help as you develop your plan.Tags: Gantt Chart Masters DissertationEssay About Interesting Place In SabahCritical Thinking Strategies For TeachersFetal Alcohol Syndrome ThesisContemporary EssayistStar Of The Sea EssaysCurriculum Development For Inclusive Practice EssayEssay Of My Favourite DishBibliographic Essay ExampleEssays Conceptual Analysis
The owner is personally responsible (liable) for all business debts and for federal taxes.
Limited Liability Companies (LLCs) are very popular.
Although not required, forming an LLC should be done with the help of a qualified legal professional.
Among other requirements, LLCs must create a governance document called an Operating Agreement.
To form a corporation, you must file with the Washington Secretary of State and you must create a governance document – which, in this case, would be bylaws.
Corporations also have other requirements, such as issuing stock certificates, holding annual meetings and keeping minutes, electing directors, etc.Taking classes and attending workshops are excellent ways to gain the knowledge you will need to be successful.Training Opportunities: The most valuable part of writing a business plan is the education you gain by researching and writing it.The business has limited legal liability like a corporation, but has fewer governance requirements.Creating an LLC requires filing with the Washington Secretary of State.It helps you and those working with you to stay focused on what’s important.A vision statement answers the question “What do we want to become?Get to know the business structure options and discuss them with your advisors to determine which will be best for you.Find legal, tax and business (SCORE, Small Business Development Centers) advisors.This guide is designed to help you better understand your readiness for starting a small business. Rather, it is a tool that will prompt you with questions and assist you in evaluating your skills, characteristics and experience – as they relate to your readiness for starting a business. Your responses will be evaluated at completion of the questions.You don’t need a degree in business to start one, but knowledge is power.