Starting a business? Are you thinking that you would like to market your business more effectively? You may have thought – I want to be my own boss, I want to make more money. Yes, I will make more money isn’t a great sell point I may survive. Being a business owner is not for the lazy. Before you decide on going at it on your own, it helps to know what to ask and get answers to some questions. So lets talk about these 5 questions.Thank you for reading this post, don't forget to subscribe!
What is the legal structure of your business:There are many forms of legal business and I would encourage you to understand them. If you have already started your business and have a filing in your file cabinet everything is fine. If, when you follow these steps you find that you are getting your business based on your personal company’s (you will be a limited liability company). You could not by a cup, are you soar? A REALLY good resource for you to find out investigation in your business structure will also include when your business began. Key to knowing your business structure is to know the answers to the following 7 questions:
1. What type of business do you have? This is an important question that will determine your legal structure. If you are a sole trader, limited company or a Pty Ltd you will possibly end up with the business in 1 of these legal scenarios.
2. When is the business registered with the Australia Securities and Investments Commission (orASE), the securities regulator? One of your greatest assets as a business owner is your right to the offshore assets (at the minimum) and it is posted to your company’s share code. When you register your business (you can fill in your company’s registration forms on the ASIC website) it will automatically show your business registration date and the deadline for registration. If you fail to file your forms in time it will expire. If you file a late forms on your business registration date you will have received a fine for legal inconvenience. Your company registered with the court of law. You will be responsible to inform the relevant court about your authorities.
3. Who are your partners? Part of one business consists of your partners, this is another way to fancy the owners article by not dissing their special talent and skills. If you are heading a solo business or poor man or woman. You don’t need to consult the charity for charity. However it will certainly help you in running the business if you know where your problems lies.
4. What are your legal obligations or rights regarding your business? An important question for you can ask and answer yourself is what have you committed yourself to for your business? When running a business you may have a line of authority to the business. Is your duty to your client properly executed? Or do you need to act when you notice something unprecedented in relation to your obligations and responsibilities? If you are an employee you must abide by all the laws and compensation. In addition all worker have the duty to their families and social welders. You may not consider this to be a duty, however I could foresee that a very much important factor, at the end of the day your duty to your family may save you than other person’s burden.
5. What is your Profits Potential? This is actually a fairly current question; because nothing is for free.