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Greater Cincinnati Score Small Business Resources


organizational briefs-3

Greater Cincinnati Score Small Business Resources

Score has an extensive library of business resource briefs to help entrepreneurs start and operate a successful business.

As a new business, you have plenty of decisions to make even before you actually launch, including how to best organize your business. Each of these briefs will give you crucial information that will help you find the best solution for your unique situation.

Choosing the Legal Structure of Your Business

One of the most important decisions you will make as a business owner involves the selection of the legal structure or form of your business. The form of business enterprise you choose will have important consequences in terms of how your business will be managed, the personal liability of the owners, how taxes are paid, and how ownership is held. Planning ahead is the key. Each business form has its advantages and disadvantages and should be evaluated in the context of your unique situation.

Incorporating in Ohio

This brief will tell you what you need to know to become a corporation in the state of Ohio. The corporation laws of Ohio are prescribed by statute in Title 17 of the Ohio Revised Code. In accordance with the statute, anyone desiring to organize and operate as a corporation in Ohio must file certain documents to obtain permission to operate as a corporation.

Limited Liability Company

This brief explains what a Limited Liability Company (LLC) is and what is required to become an LLC. The LLC is a concept initially adopted in the 1990s. All 50 states and the District of Columbia now recognize this popular business type. But what kind of businesses benefit from this type of structure, and which ones should avoid it?

Business Organizational Options in Ohio

As an entrepreneur, it is important to understand the possible organizational structures for your business. You should always discuss your options with an attorney, but before you meet, it’s a good idea to do some research yourself. This brief provides an overview of each organizational structure’s liability, tax implications, and key advantages and disadvantages.

Starting a Non-Profit Organization

Do you have a great idea for a non-profit organization? Starting an organization like this is significantly different from a for-profit company. Many people want to start a non-profit — also known as a 501(c)3 — because they believe it will be easy to get grant money, but there is much more you should understand. Don’t get yourself in hot water; know your responsibilities! There are many regulations and operational procedures required to obtain and maintain the 501(c)3 status that allows solicitation of tax-deductible contributions from donors.

Certification and Registration of Minorities, Veterans and Small Business

There are many forms of registration and certification. Your first step should be to check with the organization you want to work with to see what they require and what advantage if any you would enjoy if you qualify. This brief will guide you to the multitude of certification options and the application process.

Women’s Business Certifications

If you are a woman and a business owner, you owe it to yourself to look at all opportunities to grow your business. Discover what types of certifications are available to you, to increase your knowledge and your company’s profile. Should you get certified through the Women’s Business Enterprise National Council, and how do you go about it? You can also learn about certifications that can help you obtain partnerships with other companies in the private sector.

Partnership and LLC Operating Agreements

What do you need to know about partnership and LLC operating agreements? While state law may not require an operating agreement, it is an important business tool. Staying informed helps you to make better business decisions. An operating agreement will help protect an LLC’s limited liability status, as well as clarify financial and management policies and let your business be governed by your rules — not the default rules of the state. This brief offers a checklist of points to be considered when creating partnership and LLC operating agreements.

Sales Agreements for Service Providers

Are you running a service-based business? If so do you have a documented sales agreement that you require new clients/customers to sign? Unlike with businesses that sell physical goods, it is crucial that you, as a service provider, create a written agreement spelling out the specific services to be provided, when, at what price, and other pertinent terms. That document is known as a Sales Agreement Contract. This brief tells you what elements are required to create one.

You can access all of these briefs in the SCORE Library by clicking here. Take advantage of others’ years of experience to help you start and run a successful business. And remember that SCORE offers free mentoring to business owners to assist you with any of decisions you need to make.