There are many Quad Cities residents who are serious businesspeople -- dedicated to providing a quality service or product, while at the same time enhancing their companies' profitability. The level of dedication it takes to start and run a successful business can be overwhelming, and most businesspeople do everything they can to ensure the company is taking the right steps. When it comes to legal issues, business leaders should not act any differently.
When starting a business, one of the most important decisions the entrepreneur will make is what business form to select. Entity formation can have a significant impact on the business at the beginning and throughout the life of the business so it is important to select wisely and carefully and for entrepreneurs and business owners to be familiar with their options.
Choosing a business form is an important process, which is why new business owners should be aware that legal resources can help ensure they get started off on the right foot. The type of business form selected can have an impact on your business for years to come, which is why it is essential to be familiar with the different business forms available and what your selection means for you and your business.
Setting up a business is a big step for many entrepreneurs and business owners. As a result, anyone starting a business should be familiar with legal resources and options available to them as they are establishing their business and choosing a business form.
None of us will live forever, and most of us do not want to work forever either. If you own your own company, it is important to plan for your retirement or unexpected death. If your business is to be your legacy and continue beyond your involvement, you must engage in succession planning early enough to ensure your successor has all the necessary skills to replace you.
Selecting the best business form for a new business is one of the most important start-up steps. Oftentimes, this step can be overlooked and its importance undervalued but it should not be because the business form selected will impact taxation, management and liability concerns.
We are proud to welcome attorney Michael S. McLeran as the newest associate to the Betty, Neuman, & McMahon team.