Planning to Start Your St. Louis Business

Congratulations! You are about to enter the world of the entrepreneur by starting your own business. Every entrepreneur before you – including Mark Zuckerberg, the founder of Facebook, Michael Dell, the founder of Dell Technologies, and Jeff Bezos, the founder of Amazon – was once in the same place as you: starting their own business. Maybe you won’t have the same success as they have had but you can at least, lay the foundation for success. What is that foundation?

The first part of that foundation is deciding what kind of entity should your business be. You have no doubt heard about corporations and probably limited liability companies but which one is right for your business? Having represented entrepreneurs for several decades, we have come to the conclusion that with rare exception, your business should be a limited liability company (LLC). The benefits of an LLC's simplicity of operation, tax treatment, and asset protection can outweigh doing business as a corporation or as a sole proprietor.

What else goes into building the foundation of your new business now that you have decided to operate your business as an LLC? A whole series of other questions arise out of this one decision, including:

  • Will I have employees?
  • What kind of facility will my business need (e.g. office space, warehouse space, industrial space, manufacturing space)?
  • Will I own or lease that facility?
  • Will I have business partners and what assets or services will they contribute to the business?
  • What are my capital needs and will they come from loans and/or my own personal assets?
  • What licenses or permits will my business need?
  • Will my business operate in more than one state?
  • Will my business rely on patents or trademarks I own or need to acquire?

The above is not an exhaustive list of questions you will need to ask, but it will help get you started in thinking about other questions you will need to have answered.

At The Kaiser Law Firm, P.C., we have helped countless entrepreneurs start their own businesses and will be glad to assist you as well. Please give us a call at 314-966-7766 so we can help get your business started. Who knows, maybe your name will be mentioned someday along with Mark, Michael, and Jeff?