Business Needs to Know - Business Licenses, Corporations, & LLCs

Business Needs to Know - Business Licenses, Corporations, & LLCs

The Chamber, in partnership with the El Camino College Small Business Development Center (SBDC), offers educational seminars on topics relevant in today's business world. This month's topic will be structuring your company.

One of the first decisions that you will have to make as a business owner is how the company should be structured. Covered in the seminar is permit processes, reviewing how to apply for the permits needed to operate a business, business licensing requirements, and a brief discussion on the implications of legal structures. The workshop is led by a business attorney, so please be prepared with your questions. This decision will have long-term implications, so consult with an accountant and attorney to help you select the form of ownership that is right for you. In making a choice, you will want to take into account the following: Your vision regarding the size and nature of your business. Number of employees. Type of business operation. Legal restrictions. The level of control you wish to have. The level of “structure” you are willing to deal with. The business’s vulnerability to lawsuits. Tax implications of the different ownership structures. Expected profit (or loss) of the business and capital needs. Whether or not you need to re-invest earnings into the business. Length of business operation.