Legal Question in Business Law in Wisconsin

Re: Home based Bakery

There are many things you should consider when starting a business. First, do you have a viable business idea set out in a business plan. A business plan should identify your market, marketing plans, identify a budget and income projections.

You must also consider the form of your business, sole proprietorship, partnership, Limited Liability Compant or a corporation. Certain forms of business provide you with "limited liability" which insulates your personal assets from the debts incurred by the business.

If you have employees you will need a state and federal employee ID number. You may also need liability insurance insurance and worker's compensation insurance.

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