SINCE 1974
As an entrepreneur, you might be wondering how to open a business bank account for a Delaware-based company. The rules vary among banks in the United States, so it’s essential to check with your specific bank. We’ve put together a guide to help you understand the basic rules that all banks follow. Keep in mind, […]
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Most entrepreneurs are optimistic when starting a new business venture. However, many understand that commerce is inherently risky. According to the U.S. Bureau of Labor Statistics, 20% of new businesses fail within two years, and only 50% make it to their fifth year. It’s ok if you decide to close your business. However, you need […]
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If you want to do business using an LLC, you will need to open a business bank account. Having a separate bank account for your LLC is required to protect your personal assets from business liabilities. Savvy entrepreneurs know they should never mix personal funds and accounts with company assets, so it’s important to know […]
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The Delaware Limited Liability Company (LLC) is the preferred legal entity for entrepreneurs and small business owners. Compared to a corporation, an LLC offers much more flexibility and minimal red tape. The company’s Operating Agreement sets forth an LLC’s ownership. This internal document governs the affairs of the company and is not filed in the […]
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If you have ever tried to rent an apartment or lease a vehicle, you are probably familiar with the personal credit system. Your Social Security Number is attached to credit reports generated by major credit bureaus. Potential lenders then use your credit score to assess your ability to borrow money. Much like how a Social […]
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Is the first step applying for a business license or forming a Delaware LLC? Unlike the chicken or the egg, this question has a definitive answer – the LLC formation comes before the business license. In order to begin doing business under a business license, you must first have formed the applicant. The LLC should […]
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Changed your Delaware business name? Updating your branding may require a business entity name change with the Delaware Secretary of State. Notifying the IRS of your corporate or LLC name change is an important second step. In most instances, a name change will not require a new EIN but a simple letter to provide notice […]
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Starting a new business comes with navigating new waters and that includes what licensing is required. Business licenses are often issued at the local government level and are required for you to conduct business. This license allows the governing agency to verify that you are following the rules set in place to protect the public […]
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