Establishing a business starts with selecting the right legal structure, which impacts taxes, liability, and operational flexibility. Entrepreneurs can choose from Sole Proprietorships for simplicity, Partnerships for shared ownership, LLCs for liability protection, C Corporations for investor appeal despite double taxation, or S Corporations for tax advantages with ownership limitations. Careful evaluation of these options ensures alignment with long-term business goals and financial considerations.

Once the legal structure is determined, the next crucial step is filing the Articles of Incorporation, which formalizes the business entity. This documentation includes essential details such as the business name, purpose, registered agent, and incorporators' information. Properly completing and filing these documents ensures legal recognition, compliance, and a strong foundation for growth and operational success.

Episode length 00:20:05.