One of the biggest decisions you'll make in starting a business is choosing a legal entity. Will your business be a partnership? Sole proprietorship? Limited liability company (LLC)? Limited liability partnership? S-corporation? C-corporation?
Many would say that the governor of Georgia has supported and encouraged economic growth in our state through his Georgia Competitiveness Initiative. The initiative is designed to provide a "business friendly environment" for those entrepreneurs looking for a place to start or expand their business. It would seem that these efforts may be beginning to pay off and every aspect of the state's economy indicates that the time is right for new business formation.
Atlanta is quickly becoming a popular place for entrepreneurs looking to start a tech company. The low cost of living and doing business, along with available resources, are attracting business owners in the technology industry. Currently, our city does not even rank in the top 10 for tech start-ups, but many here are determined to change that. As more entrepreneurs are choosing Atlanta as the place to start their companies, they may benefit from getting assistance with business formation.
Georgia entrepreneurs have a lot to think about when they start a small business. There are always opportunities to make mistakes and spend money unwisely. However, planning ahead and starting off as small as possible can help business owners save time and money. Some investments, such as establishing a business organization and setting up a website, are wise, but there are other areas where it is fine to cut corners.