What are the most important issues when starting a San Diego business? Are you considering the formation of a new company here in Southern California? There are many things to know as you work through the start-up process, and it helps to have an experienced business attorney and coach who has served businesses just like yours for almost four decades.
Helping to Form Thousands of Southern California Business
We have helped to form and advise thousands of businesses over the years, and the odds are we have deeply informed insight into not only the pitfalls others in your industry have faced, but the fastest strategies to get your company up and running and generating a profit. How do you get your new San Diego business off on the right foot? What are the important issues associated with selecting the right entity, ensuring your corporate documents are effectively structured and process controls are in place?
Selecting the Right Entity
There are many decisions regarding the establishment of a new business entity. Should you choose to be an LLC, S-Corporation, C-Corporation a California Professional Corporation or a Management Services Organization or MSO? Each entity provides advantages and disadvantages. It is important to make an informed decision up front as it can be extremely challenging to change the nature of your corporate entity down the road. We are often asked “Why shouldn’t I just download forms from some legal website, pay the fees to California and get into business?” “Aren’t boilerplate forms less expensive?” “I’m bootstrapping this start-up and need to keep all the cash I have available for the company.”
We understand. We are small business owners ourselves. We have worked with small and mid-sized businesses and professional / medical practices for decades. The answer lies in the details. Starting with boilerplate corporate documents absolutely helps to keep your costs as low as possible. However, California law is quite complex – one of the highest regulatory states in the Union for businesses. Most forms you download or copy off the web simply don’t have the language required to stand up to California law.
Why Is the Right Entity Important?
While forming a corporate entity the most important issues when starting a San Diego business it isn’t just about the name of a company or image. The LLC, or corporation protects you personally from liabilities generated by the company itself. That is why you have and need a corporate entity in the first place. You can do business under your own name. There are tax implications and all the liability will come right back to you. If you become involved in a dispute they can take your home, your assets, and all the money in your personal accounts.
Your new San Diego business entity exists to separate you, legally, from the company you are forming. It is a barrier that prevents creditors from coming after your personal assets and money if the business encounters a challenge, liability or lawsuit. If you don’t get this right, any creditor can “pierce the corporate veil” of your company and come after you (and your spouse) for all you have.
Proven Library of Successful Business Formation and Corporate Documents
Saving your startup capital is one of the most important issues when starting a San Diego business. All boilerplate forms require modification. We aren’t here to separate you from the money you will need to get your company up and running. We sit down with you to discuss your vision, your plans and how you see things now and in the future. Our job is to protect you while helping to lay the foundation for a successful business. To help you to understand all of the risks, and the literally dozens of options to consider as the boilerplate is modified to fit your unique circumstances. Most clients are quite surprised at the value our services provide.
The Watkins Firm has amassed an incredible library of business formation and entity-related documents, operating agreements (LLC), bylaws and shareholders’ agreements and other important business contracts you will need to get things up and running. We aren’t creating things from scratch – it’s just too expensive and unnecessary. We custom tailor documents from our extensive library to fit your unique circumstances while ensuring the appropriate protections are in place to not only fulfill federal, state and local laws and regulatory compliance issues, but to properly establish the guidelines under which stakeholders will operate and contribute to your new company.
Proven Experience and Insight into the Important Issues When Starting a San Diego Business
We provide extensive consultation, guidance and legal services to new business clients. We help to ensure you are guided through the most important issues when starting a San Diego business. We not only complete the corporate documents and all regulatory and business forms required to get you going, we provide sound advice and counsel based upon decades of helping business professionals and entrepreneurs just like you.
The odds are obviously against new start ups. Most will fail within the first five years. What are the factors which separate those who succeed from the many who do not? How can the Watkins Firm help to make sure your new business is best positioned to succeed and thrive?
We invite you to review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
Learn more about what it takes to form a solid corporate entity, and all we can do to advise and support your new San Diego business venture. Our goal is to help your business to become successful in the shortest possible time frame while helping you to avoid the traps and pitfalls that lead most businesses to fail. You are different. This is an exciting opportunity and we want to help.
