New Business Foundations

Step 1: Business entity and registration
Conduct research to answer the following questions:
In which county, state, and country will your business be located, and why? Please do not default to your physical location. Think about tax laws and ease of doing business in the selected location.
What type of business entity will you select, and why? Think about the complexity of required paperwork, taxation, and insurance.
What are the rules and regulations for starting a new business for your selected entity type? Remember that requirements vary by location.
Will you register your trademark? Why or why not? If yes, what are the costs associated with trademark registration?
Step 2: Start-up costs
Refer to the module content, and list all the expenses you expect to pay in the first six months.
Total your costs for six months in an Excel spreadsheet.
Round up the costs to arrive at a ballpark figure that represents the capital needed to start and operate your business for six months.
Step 3: Funding your business
How do you plan to fund your business?
Why did you select this method of funding? Explain how your decision supports your short- and long-term business goals.
PurposeTo make strategic decisions to establish a legal entity for your business
To demonstrate an understanding of costs related to starting a business