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Slinde Nelson

Business formation with long-term success in mind

On Behalf of | May 12, 2020 | Business Formation

The decisions made during the initial stages of a business will have an impact for as long as the company operates. Business formation involves much more than just deciding to start a company and finding a commercial space or creating a business Facebook page. The business owner must determine the tax structure of the company, which affects tax obligations, personal liability and other aspects of operations.

Choosing the right structure for an Oregon business is one of the most important choices during the start-up process. Owning and operating a business can be difficult, and an entrepreneur has to be committed to hard work and dedication. It can take a while before a new company becomes profitable, and having enough capital is crucial for the start-up costs and sustaining the business in the early stages.

Experienced legal counsel is important all the time for entrepreneurs, but it is especially important during the start-up phase. An Oregon business law attorney can help an entrepreneur choose the right structure, consider tax implications, review employment contracts and make choices that will make sense long term. It is also helpful to work with financial and tax professionals as well.

Business formation can be a complex process. Prospective business owners may find it beneficial to first consider seeking an evaluation of their business goals and plans with an attorney before moving forward. This step can help an entrepreneur understand how to move forward in a way that minimizes the mistakes and lowers the chance of financial or legal risk in the future.