I am starting a new business and I want total control. How should I go about that?
I am starting a new business and I want total control over the business with limited liability. What organizational model should I use and why?
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- Make it a privately held corporation with you as the principle and sole stock holder. That gives you total control over the business and the corporation status will protect your personal assets from corporate liability.
- sole proprietor any thing else is over kill and makes some one else money. limited liablity - don't do dumb.
- Really you can control in a new business is yourself. Before you do anything get some good business financial planning software. Then take about 6 months to build your plan. I'm talking about working with your bank and the SBA to build a plan and a budget that will run like a well oiled clock from the day when you first turn your open sign around.
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