Deciding on what type of organizationally structure to use for your new business has far-reaching implications and should be done in conjunction with an accountant and an attorney. The following factors should be considered when making this decision:

• How big your business will be
• The type of business you will be operating
• How much control you wish to have over day-to-day operations
• Your capability to deal with a more complex structure
• Vulnerability to lawsuits
• Tax implications
• Expected profits and losses
• Desire to reinvest earnings
• Accessibility of cash
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Look for a Niche
Dictionary.com defines the word niche as “a place or position suitable for a person or thing” or “a distinct segment of a market”. In other words, you are looking for a business that feels good to you and that you will be happy starting and developing and you are also looking for a specific need in the population that you can meet. To determine if your particular idea is workable, write down the answers to the following questions:
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