Starting Your Business On A Strong Foundation
Why do so many small businesses fail? One of the key reasons is lack of planning and foresight in the creation of the business. By taking a few wise legal steps at the business formation stage, you can set your business up for a greater likelihood of success.
At The Krause Law Firm in Sioux Falls, we enjoy nothing more than helping our business law clients thrive in a competitive market. Our clients include small and midsized business owners, entrepreneurs, farm owners and operators, and others with business interests in Sioux Falls and throughout South Dakota.
Selecting The Right Business Entity
The first legal step in the business formation process is choosing the entity your business will operate under. Various entities have their advantages and disadvantages, including LLCs (limited liability companies), C-corporations, S-corporations and more.
The entity you choose will have a large effect on many aspects of your business, including:
- The amount of personal liability you incur
- Allocation of rights and responsibilities
- Profit sharing
- Tax liability
We will guide you through the entity selection process as well as other formation steps, such as establishing governing documents, employment contracts and other important documents. We will be here throughout the life of your business, whether you need guidance for day-to-day concerns or momentous transactions and business disputes.
Talk With A Business Law Attorney About Your Legal Needs
If you are starting a business in South Dakota, our lawyers are here to help you make the right decisions at this critical time. To arrange your initial consultation with one of our business law attorneys, please contact our law offices online or by telephone at .