Starting a Business - Sole Proprietorship

Features

-easy & inexpensive -earnings and losses flow to owner -proprietor's liability is unlimited -bad idea if proprietor has employees -CAN'T SELL SHARES TO RAISE MONEY- must borrow

Low risk s.p.s

-lemonade stand -tutor -freelance writer

DBA Filing Requirement

-must register its trade name w/ the County Clerk's office of the county where it will operate unless it is their FULL PERSONAL LEGAL NAME -DBA Certificates:

Would you be personally responsible if you hurt somebody and would it all be on you and if you're the one who screwed it up?

> THE WRONGFUL PERPETRATOR IS ALWAYS RESPONSIBLE -sometimes you can get out of being liable for somebody else's mistake

Municipal Business Permits

>things that aren't really proper -beer, alcohol, etc.

Sole Proprietorship

Unincorporated business owned by one person