Thus, your legal and accounting fees will be much higher as a corporation than will those required for a sole proprietorship type of business. As a sole proprietor or partnership, you'll find many areas require the registration of your business name. About the best way to find out what laws apply in your area, is to call your bank and ask if they need a fictitious name registration card or certificate in order for you to open a business account. Selecting a name for your business is quite important to you and particularly relative to advertising. Your business name should describe the product or services you offer.
Most businesses tend to grow quickly or they never get off the ground.
There are a few exceptions, but only a very few, that tend to grow at a modified rate. So, buying a piece of property and setting up your business on or within that property, obligates you to ownership regardless of what happens to your business. Leases are almost always very strong contracts written by attorneys to the advantage of the property-owner. In the beginning, it's wise to either get the shortest-term lease possible, or arrange to rent with an option to lease at a later date. This does not apply to a retail business, unless your particular business happens to be an untried one.