Starting a Business
Starting a business is an exciting venture, but it also comes with its challenges. Proper planning is critical to ensuring your business thrives rather than becoming overwhelmed by unforeseen obstacles. Statistics show that a significant number of new businesses fail within the first 18 months due to insufficient preparation, misunderstanding risks, or lack of knowledge about the local market and legal requirements.
At DuRant Law, our team of experienced business attorneys is here to guide you through the complexities of starting and operating a successful business. With our deep understanding of local regulations and years of experience in the Myrtle Beach business community, we’ll help you lay the groundwork for a thriving enterprise.
Entity Formation: LLC, Sole Proprietorship, or Corporation
One of the first decisions you’ll make as a business owner is how to structure your company. Each business structure has unique benefits and implications for taxes, liability, and operations. The most common options include:
- Sole Proprietorships
- Limited Liability Companies (LLCs)
- Corporations
- Partnerships
The choice depends on your specific goals, assets, and future plans. Our attorneys help you navigate these options to determine the best fit for your business. We draft essential documents like operating agreements, governing rules, and asset protection measures to ensure your business is legally sound and prepared for growth.
Staying Compliant with Laws and Regulations
Keeping up with constantly changing laws and regulations can be overwhelming for business owners. What was once common practice may now expose your business to costly fines or compliance issues. At DuRant Law, we monitor legal developments to ensure your business operates within the bounds of local, state, and federal laws.
We also assist with changes in business structure, whether you’re adding partners, hiring employees, or transitioning to a new phase in your business. For family-owned or small businesses, we can help manage changes such as succession planning, marital adjustments, or bringing family members into the operation.
A carefully constructed and regularly updated business plan, reviewed by a knowledgeable attorney, can help protect your hard work and investment.
Why Choose DuRant Law?
At DuRant Law, we’ve been helping businesses in Myrtle Beach and the Grand Strand area since 1983. As a family-owned and operated firm, we understand the unique needs of local businesses. We combine personalized attention with comprehensive legal services to ensure you’re protected and prepared at every stage of your business journey.