QUESTION.
I would like to start a small town newsletter. We do not currently have a local paper so to obtain financing I plan to solicit local businesses for advertising. My concern is in liability so I thought a single member LLC status would limit
my husband and I from any legal liability if a reader found some fault in something that was printed. My goal is to provide information to the public about local events and services. Do you think I should establish this venture as an LLC or as some other business type? How will our personal assets be affected?
ANSWER.
An LLC would be the best option to use if you are going to make it a for-profit enterprise. It sounds like you may be able to make it a nonprofit enterprise. If so, then you will have to incorporate. See
BECOME A FOUNDER OF A NONPROFIT ORGANIZATION
PICK A BUSINESS, CREATE A BUSINESS PLAN, AND START IT SOON
FIGURE OUT HOW TO WRITE A BUSINESS PLAN
I hope my comments are helpful to you. Feel free to send me follow-on questions via email. Good luck! Regards, -Jeff
Jeff Lippincott
SCORE.org Counselor
Princeton, NJ
scoreprinceton @ aol.com
www.scoreprinceton.org
www.jlippin.com
