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The business structure you choose influences everything from day-to-day operations, to taxes and how much of your personal assets are at risk. You should choose a business structure that gives you the right balance of legal protections and benefits.
Pick the type of business insurance you need. You get some protections from the kind ofbusiness structure you choose. A limited liability company (LLC) or a corporation status can protect your personal property from lawsuits. However, that protection has limits.
Standard 7 (a) Loans are 7 (a) loans that are greater than $500,000, and exclude 7 (a) Small, SBA Express, Export Express, CAPLines, Export Working Capital Program (EWCP), International Trade loans, and Pilot Program loans.
Fund your business. It costs money to start a business. Funding your business is one of the first — and most important — financial choices most business owners make. How you choose to fund your business could affect how you structure and run your business.
If your business is an LLC, corporation, partnership, or nonprofit corporation, you might need to file for licenses and permits from the county or city. Some counties and cities also require you to register your DBA — a trade name or a fictitious name — if you use one.
To help provide a level playing field for small businesses, the government limits competition for certain contracts to small businesses. Those contracts are called “small business set-asides,” and they help small businesses compete for and win federal contracts. There are two kinds of set-aside contracts: competitive set-asides and sole ...
Loans guaranteed by SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. Some loan programs set restrictions on how you can use the funds, so check with an SBA-approved lender when requesting a loan.
Many small business owners will face a time when they need to transfer their ownership rights to another person or entity. You’ll have a few different options available for doing so.
Most small businesses need a combination of licenses and permits from both federal and state agencies. Business activities regulated by a federal agency will need a federal license or permit. Check to see if any of your business activities are listed here. If they are, then check with the right federal agency to see how to apply.
You’ll want to choose a business name that reflects your brand identity and doesn’t clash with the types of goods and services you offer. Once you settle on a name you like, you need to protect it. There are four different ways to register your business name.