Startup Resources

 | BusinessTips for keeping your business running compliant and lean.

Business 101 for Running a Startup

Business Structures

  • Sole Proprietorship: A business owned and operated by one individual.
  • Partnership: Two or more individuals sharing ownership and management.
  • Limited Liability Company (LLC): Hybrid legal structure with limited liability.
  • Corporation (C-Corp and S-Corp): Separate legal entity owned by shareholders.

Contracts

  • Employment Contracts: Define terms of employment for staff.
  • Service Contracts: Outline terms for contractors or freelancers.
  • Partnership Agreements: Define roles and responsibilities for partners.
  • Customer Contracts: Specify rights and obligations for customers.

Partnerships

  • Strategic Partnerships: Collaborate with other businesses for mutual benefit.
  • Supplier and Vendor Partnerships: Build relationships with reliable suppliers.
  • Investor Partnerships: Attract investors aligned with your business goals.
  • Technology Partnerships: Leverage tech partnerships for innovation.

Key Considerations

  • Ensure legal compliance with local laws and regulations.
  • Manage risks through contracts, insurance, and professional advice.
  • Regularly evaluate and adapt business structures and agreements.