Harvard Business Review

Sole proprietorships are companies owned and operated by one individual and are not identified as a separate entity from the owner by the government. While a sole proprietorship is the best business construction, sole proprietors are personally liable for their business. An LLC is a more complex business structure than a sole proprietorship and might embody people, corporations, and different LLCs as members. Additionally, LLCs aren’t subject to a separate degree of tax and provide the business proprietor legal responsibility safety and tax advantages. Marketing and sales strategy — This part ought to describe how you will market and promote your product.

• Learn the steps to start a small business, get financing assist from the federal government, and more.
• Employment, Hours, and Earnings from the CES survey — monthly information on employment, hours, and earnings by industry and geographic space. [newline]Employment, Hours, and Earnings from the CES