Before you start your business there are some legal requirements that you will need to look at and take action on. I have listed some that immediately came to mind. There will be others so make sure you get some really good legal and financial advice before jumping in.
REGISTER YOUR BUSINESS NAME
Some websites that may help are listed here:
http://www.business.gov/
http://www.start.biz/business_names/how_to_register.php
http://www.business.gov.au/
You will need to also decide if you are going to operate as a sole trader, partnership or if you are going to incorporate it as a company.
DUTY OF CARE
Can be briefly described as an obligation that a sensible person would have in the circumstances when acting toward others and the public. If the actions of a person are not made with care, attention, caution, and prudence, their actions are considered negligent.
BOOKKEEPING AND TAX REQUIREMENTS
It’s very important to keep accurate records.
PUBLIC LIABILITY INSURANCE, PROFESSIONAL INDEMNITY INSURANCE, BUSINESS AND PROPERTY INSURANCE
These are really worth looking at. If you get sued it could wipe you and your business out.
LICENCES & ROYALTIES FOR MUSIC
http://www.ascap.com/index.aspx
http://mpa.org/copyright_resource_center/
http://www.prs.co.uk/
http://www.ppca.com.au/
As I mentioned earlier in this post there are more legal issues but the most important thing is to get good legal advice and a good accountant.
Keep dancin’!
TDT
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