Weird Business Question

Discussion in 'Growing and Managing a Business' started by JBMedia, Jan 25, 2014.

  1. JBMedia

    JBMedia
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    Let's say I own the business Sky 9 Media.

    Can I use that as an umbrella business to run and conduct multiple businesses under?

    If so, what would this be called and how would I go about doing this?
     
  2. Sean_DeSilva

    Sean_DeSilva
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    yes, your high-level business that owns the other ones is called a holding company. You would definitely need legal counsel to help you with this. Be warned that this also increases your accounting costs because you're adding multiple layers and taxation becomes more complex.
     
  3. TimeRider

    TimeRider
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    Hello JBMedia, Are you trying to tell that You would own a business Sky 9 Media and as for example something like LG ( Life's Good ) Company which actually does Business related to electronics, technology or mobiles and also Kitchen Appliance or Home appliances like Washing machines. It would be a huge or Big Business. I actually don't know what it would be called but It would be like a Big business thing.
     
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  4. Rocky

    Rocky
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    This business would be called a Holding/ Parent Company or an Umbrella brand under you would have different brands or companies.

    About setting up you can read more here: http://smallbusiness.chron.com/can-start-multiple-businesses-same-license-13689.html

    and here: http://smallbiztrends.com/2013/03/how-to-set-up-structure-multiple-businesses.html
     
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  5. JBMedia

    JBMedia
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    Thank you all very much for the information. I will be doing some research on this. I really appreciate it.
     

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