Starting your own business may give you a chance to capitalize on a dream you have always had somewhere in the back of your mind. It's an exciting time as you finally watch things come together. You cannot wait to get this off of the ground.
There is nothing more exciting than starting a business. However, before you can open your doors to the public, you need to choose the right business structure. Making a mistake here could cost you time and money in the future.
You must have an honest and dependable business partner. If not, it could ruin your company and cost you dearly. Plus, if the two of you have a partnership agreement in place, any dishonesty from your partner could violate that agreement.
As you get ready to start your business, you're trying to decide if you want to form a C corporation (C-corp) or an S corporation (S-corp). You know they come with some fundamental differences, including more restrictions on S-corps. But what are those restrictions and will they impact your company?
What happens when a deal falls through?