Proper Business Formation Is Vital To Long-Term Success
If you have a great idea or an excellent opportunity to invest in yourself and start your own business, one of the first things you need to consider is what kind of business entity is right for you. Many factors go into this decision, and it is not only about the law. What are your long-term business goals? Are you partnering with friends or family? Will you be purchasing or leasing commercial space?
The Chapel Hill attorneys at Maitland & Stiffler Law Firm, PLLC, offer a breadth of experience in issues involving real estate, family-owned businesses, financing and everyday business management. We can act as an extension of your enterprise so you can focus on managing your business and realizing your goals.
Protecting Your Interests In The Early Stages Of Running A Business
We help our clients consider important factors in entity formation, such as:
- The size of the business
- Number of employees
- Projected growth
- Annual sales
- Type of business
- High volume of retail sales
- Service focused
- Investment groups
- Management or consulting services
- Personal liabilities
- Using personal assets as collateral for financing
- Separating personal assets and responsibilities from the business’s
Help With Unique And Complex Business Decisions
Does your business even require entity formation? Should you think about consolidating various enterprises? Determining how to set up your business involves a thorough analysis of your goals.
For example, if you are a landlord who owns several rental units, you may want to set up each unit as an individual LLC. This strategy could help limit losses across all units if one were jeopardized. At the same time, creating multiple LLCs may overcomplicate your managerial responsibilities and test your financial resources.
These are the types of decisions we help our clients make every day as they create businesses. Simplicity, efficiency and effectiveness are cornerstones of every recommendation we make. We have helped clients throughout North Carolina form and grow successful enterprises.