What Are Your Best Options?

One of the most important decisions you will make when you set up a business will be choosing its legal form of ownership. With tax laws changing and increased concerns over business liability; you need to investigate the advantages and disadvantages of the different ownership forms. Some may require the advice of a specialist, such as an accountant or attorney. See the starting your own business section of our website.

Here are some other facts you need to take into consideration when operating your business.

	Insurance Planning It takes good planning to determine what insurance is necessary to minimize your risk and to protect your business. A sound insurance protection plan for your business is as important as a good organizational plan.
	Staffing Plan Start with an organization chart that shows the business functions and the delegation of responsibilities. Write out job descriptions that define the major responsibilities and task for each position.
	Employees Employees are individuals who perform work that is subject to the control of an employer requiring what, where, when and how something is done. There are a number of procedures that you can use to select good employees.

Find this and more information in How To Start and Operate A Successful Business By David E. Rye at the Small Business Resource Center