Sole proprietorship, corporation, S corporation,  partnership or LLC?

There are a wide variety of entities that one can use for their business entity.  Each has its own pros and cons and some may not fit with your type of business.

Projections and budgets are an important part of starting up a new business

Before starting on a "business trip" maps in the form of  projections and budgets can be extremely helpful.  Frequently lending institutions or investors will insist upon reviewing your projections to determine if your idea is reasonable and well planned.

Your accounting system is important

There is no single accounting software package that is perfect for all types of business, but there are a lot to choose from.  Having the right accounting package for your business will make it easier for you to understand and run your business.

The burden of compliance

Forming a new business often requires registering with a variety of Federal, state and local offices.  Failing to do so can often result in stiff penalties.  Once you are registered you must continue to file monthly, quarterly or annual reports.  This is perhaps the greatest burden upon small business today.