Craig Columbus wrote: > > Technically, you don't need anything else other than to meet > your local > regulations for a business license as a sole proprietor. > However, I highly recommend that you talk to your lawyer and > accountant > about incorporation. There are a number of advantages, both > legal and > financial, to incorporation. > Once you've got your business structure taken care of, you'll > probably need > professional liability insurance/E&O insurance. Some clients > won't let you > work for them unless you can furnish an insurance certificate, > usually for > a minimum $1,000,000 coverage. > Of course, once you've got clients, you'll need to handle > things like sales > and marketing, business accounting, tax filing, etc. > It's not as bad as it sounds, but there's a lot of overhead to > consider in > terms of both time and money. There's a reason that > corp-to-corp or 1099 > type contracts pay much more per hour than W2. > > Craig
All excellent points. Having just been through this myself (still in it to be honest), I can tell you that you need a lot in the way of research time and some cash reserves with which to pay experts in the legal and accounting arenas. Also, if you have any plans to do business with the government, plan WELL in advance. I'll share a little insight with you as well. I had a pretty good customer base going into this. But I'm getting a lot of condescending remarks from folks regarding the number of out-of-work tech professionals starting their own businesses. If you�re going to need any kind of financing, be prepared to present yourself. And remember to laugh a lot. Message Posted at: http://www.groupstudy.com/form/read.php?f=7&i=44570&t=44568 -------------------------------------------------- FAQ, list archives, and subscription info: http://www.groupstudy.com/list/cisco.html Report misconduct and Nondisclosure violations to [EMAIL PROTECTED]
