Dinn, Hochman & Potter, LLC
TF: 800-233-4079
L: 440-681-8005

January 2015 Archives

Planning a new business venture in Ohio

When you are considering opening a business and striking out on your own, it is vitally important that you take the steps necessary to help ensure it is formed correctly and that the business plan is sound. As you are most likely aware, many new businesses fail, and you want to make certain that you have planned carefully enough to avoid that scenario.

How to register a business name in Ohio

The name used by a business may be descriptive of the enterprise or reflective of the individual forming the company. In some cases, an entrepreneur will have a great idea for a business name before issues such as financing and the choice of entity form are finalized. While some business names might not be at risk of being taken, others related to current trends might be vulnerable. Ohio allows for a business name to be reserved in advance of the company being established.

Understanding entrepreneurial law in relation to debt financing

Ohio businesses may find that establishing an unsecured loan may cost more interest rates and may be harder to establish than a secured loan. An unsecured loan might require that the individual is extremely credit-reputable in order to be approved. Many entrepreneurs start their businesses by borrowing funds from family members, but not taking caution in this process could become problematic for both the business and their personal relationships in the future. An investor is essentially a share-holder in a business until they are repaid. If they are unhappy with a business's operations, they may be legally allowed to intervene in order to protect their investment.

How a business planning strategy can benefit Ohio business owners

Ohio business owners may benefit greatly from projecting their strong vision for the future of their company into a centralized business plan. While business plans were originally intended to unify all aspects of a company toward success, their role in business changed with shifting corporate culture. Business planning became the domain of those who wanted to seek funding for a one-time opportunity, such as venture capitalist funding or other types of outside investment.

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Dinn, Hochman & Potter, L.L.C.
5910 Landerbrook Drive, Suite 200
Cleveland, OH 44124

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