If starting a business and reaching unprecedented success was easy, everyone would do it. Of course, this endeavor is not easy, and many small businesses do not get many years under their belts before they have to call it quits. Still, you have the drive and determination to move forward with your business idea and take the risks involved.
It is important to set your company up for success by starting out on the right foot. You have already chosen a limited liability company as your business structure, but you still have several actions to take before your company becomes operational.
Focusing on setup
When setting up your business, you may need to answer many questions that did not cross your mind before you set out on this journey. However, you do not have to feel discouraged. After all, you have ample opportunity to learn about starting a business and to find answers to the questions you need to answer, which may be easier for some queries than others. Some questions that will likely come include the following:
- In what state will you organize your LLC?
- What are you going to name your LLC? Is the desired name available?
- How do you file your company’s Articles of Organization? What does this need to include?
- What is an LLC Operating Agreement? What will yours include?
- How will you raise money from investors?
- Have you obtained your Employer Identification Number? If not, how do you get one?
- Have you obtained the necessary business licenses and permits?
- Will you create and maintain an LLC membership ledger?
- Have you set up an LLC bank account?
As mentioned, you may have an easier time finding answers to some questions than others. For instance, if you plan on operating your business in Massachusetts, you have already answered the first question. If you do not have extensive knowledge of operating agreements and what to include in other documents, you may need to do a bit of research and obtain reliable assistance.
Having the right help
Luckily, you can reach out to a business law attorney who can help you every step of the way. This legal professional knows what it takes to get an LLC started in the state and can help you complete and file all your paperwork correctly.