Starting a small business in 2024 involves navigating various legal requirements and we’ve put together a short list of factors to consider when starting your business. This list is not exhaustive but these quick tips and resources below are important to understand and get in place when you launch.

• Business structure selection is paramount, ranging from the simplicity of a sole proprietorship to the liability protection of a corporation or the flexibility of a limited liability company (LLC). Each structure carries distinct tax implications and operational considerations. 
• Business name registration is essential, whether through entity names, trademarks, “doing business as” (DBA) registrations, or domain acquisition for online branding. 
• Acquiring a federal tax identification number (EIN) is vital for most businesses, while licenses and permits may be required at federal, state, or local levels, depending on the industry. 
• Business insurance, such as general liability, product liability, and workers’ compensation, is recommended to mitigate risks. 

Chase Law Group has several helpful articles to give you a deeper understanding not only for starting up a business but also a good refresher for established businesses!

Small Business Structures and Resources

Building Your Roadmap: The Basics Of A Small Business Plan

It’s A Brand New Year… Does Your Business Structure Support Your Business Goals?

Business Structure And Contract Basics

Successfully addressing these legal aspects early on is crucial, as it sets the foundation for the small business and minimizes potential legal challenges. Chase Law Group has helped numerous businesses get started with a strong legal foundation and proper business structure to help set them up for long-term success. Give us a call at (310) 545-7700 or set up a consultation.

Chase Law Group is here to help businesses throughout all phases – start-up to growth to exit strategy.
Contact us for business legal needs

www.chaselawmb.com

Please note that this article is for informational purposes only and should not be considered as legal advice nor attorney-client relationship. It is recommended to consult with an attorney for specific legal guidance pertaining to your business and its practices.