First we're going to have to decide on your business structure. Since we're looking at work-from-home style businesses, you're likely going to want a sole proprietorship, but this is a comprehensive list of all your options.
- Sole proprietorship. If you plan to operate the business on your own, either under a business name or your own name
- Partnership. If you plan to operate the business with one or more partners
- Corporation. If you plan to operate the business as a separate legal entity, separate from yourself and your personal assets
- Society. If you plan to operate a not-for-profit organization, in which any funds or profits will be used only for the society’s purposes
- Co-operative. If you plan to operate a business that is owned and democratically controlled by the people who use and benefit from your services
Do you know which structure you plan on using? Let's keep going then. I'm going to continue as a Sole Proprietor.
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