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Can you set up the legal form of your business yourself? Yes. In many states, you can file the paperwork yourself without going through an attorney. If you’ve done it before, or if you know someone you trust who has done it before, you may find the process is not too difficult. If, however, you make a single mistake, that mistake can cost you a great deal of time and money. If you plan to file by yourself, consider the possibility of pulling the paperwork together on your own and then paying an attorney to look it over before you file.

The choice of legal form for your business is not necessarily a permanent decision. As the business grows and changes, you may change forms later. But the decision you make will have legal, liability, and tax consequences from the very beginning. Educate yourself and consult with your advisors before making your choice.

Put Together a Professional Business Plan

It takes time and energy to put together a successful business plan. You may look at this outline and dismiss the process as too much work. Doing so would be an unwise decision. A business plan offers five very important benefits.