I am starting my event planning business, from a legal perspective what should I invest in right away?
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I am starting my event planning business, from a legal perspective what should I invest in right away?
I am starting my event planning business, from a legal perspective what should I
invest in right away?
Asked on July 25, 2018 under Business Law, Georgia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
First, before doing anything else, set up a limited liability company or LLC; you should be able to this online at the Georgia Corporations Division. Forming an LLC will protect you and your personal assets (e.g. house; car; money in your personal bank account) from business related debts, obligations, or liability.
Second, buy liability insurance, in case anyone is harmed at one of your events; there may be other forms of insurance (e.g. for your business's equipment or supplies; umbrella coverage; business interruption insurance against lost of income) which you should have. A reputable insurance agent can guide you in what insurance you should get.
Once you have an LLC set up and insurance, you can confidently go about starting your business.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
First, before doing anything else, set up a limited liability company or LLC; you should be able to this online at the Georgia Corporations Division. Forming an LLC will protect you and your personal assets (e.g. house; car; money in your personal bank account) from business related debts, obligations, or liability.
Second, buy liability insurance, in case anyone is harmed at one of your events; there may be other forms of insurance (e.g. for your business's equipment or supplies; umbrella coverage; business interruption insurance against lost of income) which you should have. A reputable insurance agent can guide you in what insurance you should get.
Once you have an LLC set up and insurance, you can confidently go about starting your business.
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