From the start, you will need to make a decision about the Business Entity type. There are multiple choices available and it is best to consult your attorney and accountant before making a decision as there are legal and tax implications.

For me the choice was between two options: 

1) Sole Proprietorship – it is easier to establish and there is less legal paperwork. However, you and your business are one and there is no separation between your assets and business assets.

2) Limited Liability Corporation (LLC) – there is more legal paperwork but it provides separation between your personal assets and business assets.

I have chosen to go with the LLC option as it was really important for me to separate between personal assets and business assets.

A good place to learn more about the different options is to visit the Small Business Administration (SBA) site at http://www.sba.gov/smallbusinessplanner/start/chooseastructure/START_FORMS_OWNERSHIP.html.

Click here to visit my store – www.musebazaar.com.