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1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)

7 Replies Last post: Mar 10, 2009 1:09 PM by urmajesity

First Step

Feb 25, 2009 12:04 PM

urmajesity 6 posts since
Feb 24, 2009

To begin a business, what should I do, first? Should I seek to have the name established? Also, I have a S-Corporation established, which I never did anything with, and was thinking about letting it go. But now that I'm considering making a business out of my invention, would be smart to keep it? When I established the corporation, I had a few misconceptions of its benefits and found myself in an idle state.

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SherryLeigh 13 posts since
Feb 25, 2009

1. Re: First Step Feb 25, 2009 2:48 PM

It seems to make sense to shelter the new business under the S corporation that you have established -- unless you created it with a partner or shareholders are involved, then it could get sticky.

Forming a corporation can be timely and expensive, so before dissolving the S corporation you already have established, you should seek the counsel of an attorney or an accountant. Either will be able to offer sound advice.

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MrchntSrvcs 8 posts since
Feb 23, 2009

2. Re: First Step Feb 25, 2009 4:03 PM

First you need to check if your company is still active in the division of corporations of your state. Hopefully the name of your previous business is related to your invention or if its generic then you don't have to worry about it. Are you trying to retail your product or sell it to other companies?.

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LUCKIEST 7,935 posts since
Aug 6, 2007

3. Re: First Step Feb 25, 2009 4:16 PM

First Step, Hi Anthony

YES a name is MOST important. You will need business cards and fliers. They will need a name.

Again LUCKIEST

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urmajesity 6 posts since
Feb 24, 2009

4. Re: First Step Mar 9, 2009 8:46 AM

in response to: MrchntSrvcs

I'm sorry for being away. Anyways, I think I have an interest in retail.

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urmajesity 6 posts since
Feb 24, 2009

5. Re: First Step Mar 9, 2009 8:48 AM

in response to: MrchntSrvcs

Good Morning,

Sorry for responding late. I had some things to set me back but all are well. So.....I believe i'm more interested in retail.

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MrchntSrvcs 8 posts since
Feb 23, 2009

6. Re: First Step Mar 9, 2009 11:04 PM

Great you need to know your distribution channel I mean the process that you are going to take from the production to distribution to marketing to the final buy of it. It all depends on the product that you have. If you want to be more private about it you can contact me at arxmerchant@yahoo.com

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urmajesity 6 posts since
Feb 24, 2009

7. Re: First Step Mar 10, 2009 1:09 PM

in response to: MrchntSrvcs

merchant,

I tried to email you at the email address you provided but was unable. I'll try again, but i'm not sure what's going on.

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ForumsStarting a Business

This Question is Not Answered

First Step

Feb 25, 2009 12:04 PM

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