Legal Business Plan

Legal Business Plan-30
Confidentiality and non-disclosure agreements are essential if you require financing for your business.Before entering into any contracts, it’s a good idea to have your financial institution sign a confidentiality agreement so that your businesses information is kept private.

Confidentiality and non-disclosure agreements are essential if you require financing for your business.Before entering into any contracts, it’s a good idea to have your financial institution sign a confidentiality agreement so that your businesses information is kept private.

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If you plan to have employees or do business as a partnership or corporation, you must obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS).

You can apply for an EIN at no cost online at gov .

Don’t forget, most license and permits must be renewed annually.

Be sure to include those costs in your annual budget.

This section can be quite simple for sole proprietors and quite complex for corporations.

Depending on what business you engage in, you may need licenses and permits at the local, state, or federal level.Whatever the nature of your business, you need to know what licenses and permits you need to conduct business legally.This information is available online, but can often be confusing for new business owners.A business plan projects 3-5 years ahead and outlines the route you intend to take to grow revenues. You can also use your business plan to address the legal aspects of starting up your business so when your funding comes in you can hit the ground running.For more information on creating your business roadmap, read FSN’s Start Up 101: Constructing A Small Business Plan.This is not a decision to be taken lightly; the structure you choose will have legal and tax implications.You should consider the size and location of your business, risks and liabilities, and your tax requirements.No matter the size of your business, you must conform legally by complying with all applicable licenses, zoning ordinances, and other legal regulations.One of the first issues you should address is choosing the legal structure for your business.Of course, this also depends on the nature of your business.Small business may not be too concerned about privacy.

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