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Episode 50: Do I Need to Formalize My Yarn-Related Business?

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Manage episode 125473487 series 166769
Content provided by Marie Segares: Crochet and Knitting Blogger, Designer, Teacher, Solopreneur, Indie Artisan and Marie Segares. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Marie Segares: Crochet and Knitting Blogger, Designer, Teacher, Solopreneur, Indie Artisan and Marie Segares or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode, I answer a common listener question: Do I need to formalize my yarn-related business? There are legal, tax, and mindset reasons for formalizing your business.

But first, let me mention that I'm neither a lawyer nor an accountant. You may want to consult one if plan to formalize your business.

So, why might you choose to formalize my yarn-related business?

  • You may find it easier to get a business bank account, buy products wholesale, and protect your personal assets in the event of legal action.
  • You may find that you are more accountable to your business once you formalize it.
  • Your customers and family may respond more positively to the formality of an established business entity.

Here are some resources mentioned in the episode:

You can listen to the episode for more details about the advantages of formalizing your business and common business entity types for yarn-related businesses in the United States.

If you enjoyed this episode

The Creative Yarn Entrepreneur Show is no longer broadcasting. Episodes are available as a service to the yarn community. This episode originally aired in November, 2015. Be aware that content may be outdated.

If you'd like to chat with other yarn-related business owners, join the Creative Yarn Entrepreneurs Facebook group. Support Marie's work by buying one of her books, Make Money Teaching Crochet: Launch Your Business, Increase Your Side Income, Reach More Students (Amazon | Gumroad) or Design It, Promote It, Sell It: Online Marketing for Your Crochet and Knit Patterns (Amazon | Gumroad).

  continue reading

74 episodes

Artwork
iconShare
 
Manage episode 125473487 series 166769
Content provided by Marie Segares: Crochet and Knitting Blogger, Designer, Teacher, Solopreneur, Indie Artisan and Marie Segares. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Marie Segares: Crochet and Knitting Blogger, Designer, Teacher, Solopreneur, Indie Artisan and Marie Segares or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode, I answer a common listener question: Do I need to formalize my yarn-related business? There are legal, tax, and mindset reasons for formalizing your business.

But first, let me mention that I'm neither a lawyer nor an accountant. You may want to consult one if plan to formalize your business.

So, why might you choose to formalize my yarn-related business?

  • You may find it easier to get a business bank account, buy products wholesale, and protect your personal assets in the event of legal action.
  • You may find that you are more accountable to your business once you formalize it.
  • Your customers and family may respond more positively to the formality of an established business entity.

Here are some resources mentioned in the episode:

You can listen to the episode for more details about the advantages of formalizing your business and common business entity types for yarn-related businesses in the United States.

If you enjoyed this episode

The Creative Yarn Entrepreneur Show is no longer broadcasting. Episodes are available as a service to the yarn community. This episode originally aired in November, 2015. Be aware that content may be outdated.

If you'd like to chat with other yarn-related business owners, join the Creative Yarn Entrepreneurs Facebook group. Support Marie's work by buying one of her books, Make Money Teaching Crochet: Launch Your Business, Increase Your Side Income, Reach More Students (Amazon | Gumroad) or Design It, Promote It, Sell It: Online Marketing for Your Crochet and Knit Patterns (Amazon | Gumroad).

  continue reading

74 episodes

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