Week 06: Legal Structure

This week, as I studied the different aspects of the legal structure of a business, I feel more confident and aware of what things to consider when setting up a business. I have decided on a sole proprietorship for my business. It is the structure that will best suit my needs. I learned that sole proprietorship is the most common way people set up a small business. It is the least complicated and least expensive way to start a new business. I am also glad for the discussions that have taken place on our discussion boards this week. I like to read about what others have learned about their respective businesses. There were many helpful websites shared. I like having other students that are doing similar things so that I can ask them questions if needed. It is comforting to know that others are learning similar things at the same time. As for my business, I now have a list of things to do make sure that I have a properly set up business. This is a good thing! I plan to get an Employer ID number and register for a business name through the government website. I'm one step closer to being ready for an online business!