What kind of business formation is good for startup?

Discussion in 'Starting a Business' started by ida, Mar 29, 2016.

  1. ida

    ida
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    I would like to know what kind of business should i register for startup? Should i incorporate or not?
     
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  2. Tim Paine

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    • Promotional Links are not allowed in normal forum posts. This post has been edited to remove a promotional link.
    My friend just partnered with some experienced, senior guys and they registered new company in UAE. I guess that is the new trend, offshore companies and greater global influence ...
     
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  3. anna c

    anna c
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    It depends on the kind of business you are looking to register I guess. Anyway, Incorporating will allow you to have less liability compared to registering as a sole-proprietorship as it is considered a separate legal entity. Meantime, registering a sole proprietorship or partnership costs less than registering a company.
     
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  4. Business Attorney

    Business Attorney
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    It really depends on a lot of factors. How likely is it that the product you are manufacturing or selling will create potential personal liability? If you are building ladders, you definitely want the protection of a corporation or LLC. If you are selling jewelry, then perhaps having an entity is less important.

    It also depends on the size of the business. If you have a very small business and no employees, then you have very little risk and the cost of creating and maintaining any type of entity may exceed your likely benefit. If you have employees, you should almost certainly be operating your business through an entity.

    It also depends on where you are located. Every country has its own laws and within the United States there are significant differences between the various states. In California and Illinois, for example, the state's fee to set up an LLC represents a significant expense for a small startup, while most other states' fees are less than $150.
     
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  5. bharathi3247

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    One thing always remember you can’t earn money from any business which doing very well in the market for others… The important thing is your idea and your field of interest,where you can put all your efforts and heart to achieve something you want. So before doing anything think for your field of interest and then chase it surely you will get what you want.
     
    #5 bharathi3247, Apr 6, 2016
    Last edited by a moderator: Apr 6, 2016
  6. geeksremote24-7

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    You can earn money with any type of Business but first of all you should analysis business niche,Market,Competitors and execute it well.apart of this you should have to invest in some advertisements for make your brand popular.
     
  7. CorporateViking

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    @ida There are some important pieces missing that this conversation will want to know.

    Bellow is a quote from your original post. I would definitely in your situation protect myself as best as possible.

     
  8. Gerry Speck

    Gerry Speck
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    They are so many countries in the world where so many facilities provided by their government for offshore company formation. First, make sure that the business that you are planning to start is must be fulfilled all the rules and regulations of that particular country. I would suggest you to take guidance from any business plan consultant for the same, so that further formation processes becomes easier.
     
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  9. joy farnadis

    joy farnadis
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    For starting business you can start with small scale because a huge investment at a time creates barriers
     
  10. Lily Alvin

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    From the starting any type of business will suite you. But your business should be online as well. Promoting online will boost a lot more of your business.
     
  11. Matt Makaelson

    Matt Makaelson
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    The best way to start a new online business is affiliate program with Amazon or Ebay. Mostly people said how to know which keyword is best for our amazon product. So I am recommending them eglim.com
    In Eglim you can analyse every product of amazon and check keywords ranking, best selling prodict etc.
     
  12. megainternationalbank

    megainternationalbank
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    It depends on the kind of business you are looking to register I guess.Mostly people said how to know which keyword is best for our amazon product.
     
    #12 megainternationalbank, Apr 27, 2016
    Last edited by a moderator: Apr 27, 2016
  13. Aabha Mehta

    Aabha Mehta
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    It really depends on your business. If you want to start local business then you have to take care of Locations, Competitors, Types of Customers, Business Budget, Product Budget, Product Types and more. So before start I strongly recommend you visit some local stores or meet some professional person for your business information.

    Thanks
     
  14. Chris_Tax

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    I see tons of internet businesses failing. I think product selection is the key to success. You need a totally unique product that stands out from the crowd.
     
  15. AshishDodhia

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    All business is good for earning money, but starting a business, you should analysis about your business, market requirement, business competition. All analysis is done and you are going to start your business, first you should post online your business news, money, invest in business advertisements and promote your business online using social media.
     
  16. DanielCollins

    DanielCollins
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    The first and the foremost question comes is , what kind of the business you want to open, which industry you will be focusing, IT, Internet, FMCG etc. This should be clear first, then accordingly , one can give you true suggestions.
     
  17. akiinn

    akiinn
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    I think nobody can answer that question for you without knowing the background of your business and what you want to do. How risky are your operations? How much money do you have? What is it about, do you produce something, sell something, offer a service? Generally speaking, one decisive factor is always the liability. Be aware that you'll receive all the profit of your operations in the case of a sole proprietorship, but also bear all the costs directly. This also applies to risks and liability. An LLC can help reduce those risks, but you also won't be able to simply "take profit" from a corporate entity as you wish.
     
  18. Jacob Hawkins

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    LLP is a substitute business form that gives the reimbursement of limited liability of a Company and the flexibility of a general partnership.
    These are Different types of business formation, including:
    Corporations
    Limited liability companies (LLCs)
    C corporations
    Partnerships
     
  19. Orin Khan

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    I can only share my personal experience with you. Once i worked in a factory. Authority of that factory thought they will go for product diversification. They wished to launch new product in the market. Then they consulted with consultancy firm, check the feasibility , surveyed marketplace, product costing, economical loss and profit counting and many more. So it is not so easy as it seems. If you want to start your business with a big budget, In short i can say; you should discuss with any of your local firm and then take decision. It is the practical and real scenario.
    If you want to start small business it good to register as a sole proprietorship or partnership which costs less than registering a company.
     
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