Business owners have a lot of stake in their enterprise, financially and personally. They may work hard to see that their business is a success. However, they may also want to be shielded from personal liability for the debts and actions of the business. This can be done by structuring the business as either a limited liability corporation or as an S corporation.
Most employers in Virginia want to ensure they keep their premises safe for their workers. They know that workers have certain rights should they be exposed to dangerous work conditions. In fact, the Occupational Safety and Health Act, outlines the regulatory compliance measures employers must take to keep their workplaces safe for employees.
Many entrepreneurs in Virginia are struck with a fantastic idea for a business. These potential business owners may be in a hurry to set their ideas into motion. However, before the business can open its doors, a number of steps must be taken.
When two entrepreneurs in Richmond join forces to establish a partnership, they often have grand dreams of business success. And, many do see their partnership grow into a profitable business. Partnerships are a popular type of business entity that is relatively easy to establish. There are three types of partnerships entrepreneurs can select when forming their business.
Forming a business in our state requires choosing a business entity. Of course, some people will go at it alone as a sole proprietorship. However, when two or more people wish to form a business together, they have a choice as to the type of entity they want to form. Today, we will look at corporations, limited liability companies, partnerships and limited partnerships.
People in Virginia may frequently hear of business mergers in the news, but may not pay too much attention to them. However, it is important to note when a merger occurs, as it will change the business landscape with regards to the products or services sold and the market they are sold in. Mergers can be complex, so it is good to have at least a basic understanding of what a merger is and the different types of mergers.
Sometimes even the best laid plans fall through, and a business in Virginia decides it is in its best interests to file for bankruptcy. There are three kinds of bankruptcies applicable to businesses: Chapter 7, Chapter 11 or Chapter 13. What type of bankruptcy is appropriate depends on how the business is formed.
People in Virginia have a strong work ethic, and for many this means building a successful business from the ground up. Throughout all the ups and downs of running a business, it is imperative that business owners have the help of an attorney every step of the way. This is to ensure the business stays on the right side of the law, and the business owner's interests are protected.
Not all people in Virginia who want to own a business necessarily want to start one from the ground up. For some, it makes more sense to purchase an existing business or open a franchise. It is important for these potential business owners to understand more about these options, so they can make informed decisions.
Making the decision to start your own business is exciting, but before diving into the world of business ownership head-first, there are certain steps that must be taken.