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Common legal hurdles to starting a business

On Behalf of | Mar 7, 2019 | business formation & planning |

Are you planning to start a new business in Louisville? If so, there are quite a few hurdles you will need to pass in order to get the business off the ground and running. You cannot simply find a place to operate and open the doors. Today, we will take a look at some of the legal hurdles you might face when trying to open a business in Kentucky, so you can be prepared.

One of the first hurdles you will face when starting a new business is choosing a name. You might think you’ve already got the name you want to use, but it might already be registered with another business you’ve never heard of. This could be a difficult hurdle to jump, especially if you keep coming up with names that have already been registered.

The business licenses needed to operate in Louisville will be your next hurdle to pass when starting a business. There are different licenses for all different types of businesses. Make sure you know how to label your business, so you can acquire the right type of license. You will also want to check if your business falls under any regulations as to where in the city it is allowed to operate.

You also need to get past the hurdle of determining what type of structure your business will have. You can choose from sole proprietorship, partnership, limited liability corporation and full corporations. This is an important decision to make as it will affect your taxes and other areas of the business.

Starting a business in Kentucky is not a difficult process, but it’s also not an easy one. Make sure you have all your ducks in a row, so you are not delayed in opening the new venture.