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Old 06-30-2005, 03:24 PM
smallbusinessman smallbusinessman is offline
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Join Date: Jun 2005
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Smile Baked Goods

Dear lisandraz,

Are you the only one involved with the business? If yes, then a partnership would be out. You can either set up a sole-proprietor or a corp.

The pros and cons of each are as follows:

Sole-proprietor - you are the owner, you get the profits, but you will be held personally liable if you owe money. this business type is also cost effective to set up and quite easy.

Corporation - a corp is its own entity. Filing is more difficult and costly and you may need an attorney. Corporate officers are generally not liable for debts of corp.

I hope this helps and good luck with your business.
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