I'm often asked by first time entrepreneurs what's involved with setting up a business. Do I need to incorporate? What do I need to know about hiring? Payroll? Do I need a CPA? How do I register my business? Why do I need to bother with any of this at all?
The fact of the matter is that for most entrepreneurs non-core activities like filing DE-1 forms and negotiating insurance rates are at best a necessary distraction to the value added tasks of creating product, finding customers, and building a team. At worst, they can be a confusing labyrinth of rules, regulations, and risks which if ignored or mismanaged can hurt your business. Unfortunately, business does involve some non-core, administrative overhead that cannot be ignored. And what you don’t know can bite you.
To read the full, original article click on this link: Thrice Around the Block: The "Nitty Gritty" of Startup Formation
