Legal Considerations for Start-Ups

3/16/2023

Last month almost 20 Ashland area entrepreneurs joined us at The Local Bar and Grille for our Legal Considerations for Start-Ups presentation.

This class was focused on new business owners and anyone thinking about starting a business, including hobbyists thinking about registering their business, and people who are just starting to charge for their talents. People in the early stages of planning and growing their business had their questions about business structure, insurance, business debt, and more answered by local attorney Tyler Wickman.

The most common legal questions for start-ups revolve around the different business structures such as partnerships, non-profits, LLCs, and Corporations. A lot of people are surprised to learn what the terms really mean, different benefits, different requirements of the owner, how the choice can affect their taxes, and how their choice of business structure provides a layer of protection for the owner.

Entrepreneurs also ask about business debt and insurance—for example, who is responsible for a business loan if the business fails, or can’t make the payment? Or— What kind of insurance do I need, and if being a corporation protects the owner, why is insurance necessary?

We plan to offer more classes for entrepreneurs and business owners throughout the year. Follow us on Facebook and Instagram to learn more.

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Ashland Area Development Corporation

AADC started in 1957 to help incoming and existing businesses get the help and resources they need in all stages of planning and growth from start-up to expansion and retention. We specialize in three key areas: Business plan writing and review (and business classes), Management of our Incubator Space so you can find commercial rental space for your business (what a streamlined serice!), and Administration of four revolving loan funds so you can have your operational and equipment needs met so you can do the thing that drove you to start your business to begin with!