Mar 12 2013

Start A Business Of Your Own

In the struggling economy, many people are either unemployed or underemployed, working any job they can for the apparent security of a paycheck. But some people are taking control of their situation by starting their own business. Whether starting a business, buying an existing business, or purchasing a franchise, entrepreneurs have resourceful ways of making their own work.

What do I need to start a business?

One important question to ask when deciding between these three options is, what do you want the business to do for you? Are you trying to receive regular income through a franchise? Or are you attempting to building a business for your retirement fund and for your children to inherit and continue running? Of course, cost is a limiting factor for many. While some people use equity in their homes or draw from their 401(k) retirement fund, other find low-cost ventures such as a technology-based home business. These startup costs can range from hundreds to hundreds of thousands of dollars.

Do I need an attorney to start a business?

Your goals and startup resources can help to decide whether to start a small business or buying a franchise or another business. Acquiring startup capital can be challenging in the current economic environment, and varies by location. Starting a business in Alabama, for example, can be different than starting a business in California. It is best to consult an attorney experienced in small business startup. But you want to do your homework about the business before hiring a lawyer. Sometimes people incorporate and hire a business lawyer before knowing the details of what their business will do and where the customers will come from. Once you have an idea of these aspects of it though, an attorney with experience creating a business will help guide you along the right path. If you have an idea for starting your own business, contact a business lawyer today.

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