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View Full Version : Start up small business, which company form, etc?



Axmen
01-21-2014, 04:15 AM
Hi, I would like to start up a small business alongside my studies. I'm 18 years old right now. At first I just want to earn a few hundreds in a month, nothing big. I Have now a small monthly income from my school. So for example, if I drew in a few hundreds per month in profits, it would do a lot for me as a student. I'm talking in USD now.
I have a reason why I want to start a buisness is that I really have a passion for the product!

The product I've been thinking of selling is really stylish alloy wheels for cars, mostly from Germany. I am very knowledgeable in the field, and I know which styles is "going home" and so on.
Also I have a garage (I'm still living at home), Two custom cars of any transport , driver license of course, and a start budget so at least I can buy into 5-10 set of 4 rims that "start stock". So good conditions exist for me to succeed...

My idea is to sell to private individuals through websites. Now you may ask why I simply can't make it black?
Well, because I both want to teach me how it works with companies and partly because the company I talked to didn't want to sell to private individuals.

Well, lot of talk, now to the questions:
Which legal form should I have if I turnover of over 5k per month?
Which legal form is easiest?
Which legal form should I have if I don't want to have an auditor?

More questions follow probably. Very grateful for serious answers.
Thanks.

- Best regards, Axmen.

Sally108
02-21-2014, 11:50 AM
More information is needed to be able to get better answers to your questions. In my opinion, if you are running your business correctly, you would never have to worry about an audit. To be able to figure out which form of business you need to set up more information is needed. For example, will you be the only owner of your company? Will you hire employees? And more questions along those lines. You can get lots of information at irs.gov. Good luck to you! It sounds like you have great idea!

delusional
02-21-2014, 02:17 PM
The best way to get started is by going to a local Small Business Administration office. They have all the information and the forms you need. They help people like you get started everyday.

SBSpirit
04-29-2014, 09:37 PM
Doing business is simple, you buy something cheap and you sell it expensive.

But in order to do that, you need certain things to work according to the law, register your company is the first one.
if you do that, you can buy and sign documents using the name of your company even request payments on your
business account.

As other members told, this is easy and many times is cheap if you do by yourself, you only need to present on a
goverment office and ask for instructions to register you company.

You can check this site and sure you, you will find valuable information for you on this point.

http://sbspirit.org/category/startup-basics

MahaKarthi
04-02-2015, 04:34 AM
Many start ups flourish in their business and yet get caught in legal and regulatory tangles and this could their downfall. I would suggest that you get in touch with a good tax consultant or accountant to guide you thorugh the process.

Michael Campos
07-23-2015, 11:30 PM
Any need on Business help, I am an Independent Business owner working from home and making very good money, I am currently looking for more growth on my team doing what I do if you are interested. contact me(campos3mike@gmail.com)

bryan adams
01-01-2017, 05:49 AM
You can start the best party halls in Jackson Heights Queens NY (https://www.bellozino.com/) . Its great business in newyork.

gogtar
10-30-2018, 05:16 AM
Take help from online digital business solution company. They provide alternative solution of your problems.

moverdubai12
11-20-2020, 12:29 AM
Which is the most effortless type of business to fire up?

sole ownership

Simple arrangement.

A sole ownership is the easiest lawful structure to set up. In the event that your business is possessed by you and just you, this may be the best structure for your business.

speeduser
12-04-2020, 04:20 PM
Starting small business is going to be a challenge. There are many things that makes it complicated. - Phillip Elden (https://www.phillipeldenprofile.com/)