8 BASIC Mistakes To Avoid When Starting A Small Business contd.

In continuing our discourse on mistakes to avoid at start ups, below are to be highly considered to avoid unneeded problems.

5. Not checking to see if you are legally permitted to use your business name.

 Infringing on another company’s trademark will land you in legal hot water. Don’t start using a business name on your business cards, social media, and other marketing collateral before verifying it’s not taken by someone else. I recommend performing a free search online to review business names registered with the corporate affairs commission in the state where you’re located. You may also want to conduct a national trademark search to see if your name is available in all 36 states or the states in your individual countries.

6. Choosing the wrong business structure when registering your business.

While a sole proprietorship requires less formality and administrative work, you may want to consider forming an LLC or corporation to protect your personal assets from any liability of your company. The type of business structure you choose affects certain aspects of how you conduct your business and your taxes. Do your homework and consult accounting and legal resources to help determine the best fit for your company.‎