Legal Business Plan

No matter the size of your business, you must conform legally by complying with all applicable licenses, zoning ordinances, and other legal regulations.

No matter the size of your business, you must conform legally by complying with all applicable licenses, zoning ordinances, and other legal regulations.

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The legal business structure you choose will determine how much or how little information you need to put into the Organization and Management section of your business plan.

This section will ask you about your company’s organization structure, ownership information, and board of directors.

It must be zoned for the type of business you plan to operate.

Even if a similar business is in operation in that location today, it does not mean the zoning is correct for your business.

This is not a decision to be taken lightly; the structure you choose will have legal and tax implications.

You should consider the size and location of your business, risks and liabilities, and your tax requirements.It’s possible that zoning may have changed and that business filed an exemption that does not apply to you.It’s best to check with your local government before putting anything in writing.If you are too busy to keep your eye on the legal landscape, hire a qualified business attorney to help you so you can keep doing what you do best—running your business. Hiring an attorney with knowledge in your area of business can do more than just keep you updated on changes in the law.They can also help you make informed business decisions.Be sure you are informed about your options and choose the legal structure that best suits your business and financial situation.To learn more, read FSN’s article Business Startups: Choosing A Legal Business Structure.A business plan projects 3-5 years ahead and outlines the route you intend to take to grow revenues. You can also use your business plan to address the legal aspects of starting up your business so when your funding comes in you can hit the ground running.For more information on creating your business roadmap, read FSN’s Start Up 101: Constructing A Small Business Plan.Confidentiality and non-disclosure agreements are essential if you require financing for your business.Before entering into any contracts, it’s a good idea to have your financial institution sign a confidentiality agreement so that your businesses information is kept private.