Sat. Jun 22nd, 2024

Business News on the Fly

Business Formation For New Entrepreneurs

It is often that people who have an entrepreneurial bent feel they will be better off starting a business of their own, instead of allowing others to take advantage of their knowledge, training and skills. They then have to deal with a number of things before they can set up shop, and not the least of them is the formation of the business and is its legal structure.

Any business has to follow local laws and regulations and Georgia business formation would require you to first determine the personal liability that you and the other founders are prepared to bear, how taxes will have to be paid, and other details.

You can then decide whether you would go in for sole proprietorship, partnership, form a limited liability company, a non-profit, or a corporation. Each one of them has its own legal structure, determination of liabilities and taxes, and laws in Georgia that can govern the formation of the business.