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Starting a small business is challenging. You have to learn as much as you can about the business you want to open. You need to know how to make a pitch if you want investors. You must establish accounting procedures and become familiar with all the organizational and reporting requirements of state and federal governments. It can be quite the learning curve.
One of the things you must decide is which business format you will choose. Should you run your business by yourself or with a partner? Should you become a corporation or a limited liability company? The survival of your business and even keeping your personal assets could depend on your answer.