Peri Pakroo (www.peripakroo.com) is a business author and coach, specializing in creative and smart strategies for self-employment and small business. She has started, participated in, and consulted with nonprofits and for-profits for more than 20 years. She is the founder, publisher, and editor of Pyragraph (www.pyragraph.com), an online career magazine for artists, musicians, designers, filmmakers, writers, and other creative workers worldwide. Peri received her law degree from the University of New Mexico School of Law in 1995, and a year later began editing and writing for Nolo, specializing in small business and intellectual property issues. She is the author of the top-selling Nolo titles The Women’s Small Business Start-Up Kit, The Small Business Start-Up Kit (national and California editions), and Starting & Building a Nonprofit, and has been featured in numerous national and local publications including Entrepreneur, The New York Times, Real Simple, Investors Business Daily, and BusinessWeek. For several years Peri taught adult education courses at WESST (www.wesst.org) in Albuquerque, a nonprofit whose mission is to facilitate entrepreneurship among economically disadvantaged women in the state of New Mexico. She is active in supporting local, independent businesses and is a cofounder of the Albuquerque Independent Business Alliance.
Articles By Peri Pakroo
Liability issues are of particular concern for sole proprietors because the owner is personally liable for claims against the business.
Even sole proprietors need to tackle a few legal and governmental hurdles.
Unlike general partnerships, limited partnerships (LPs) and limited liability partnerships (LLPs) offer some of their owners limited personal liability for business debts. Limited partners who invest in an LP have little control over daily business decisions and, in return, enjoy limited personal liablity. And all of the owners of LLPs have some limited personal liability for business debts.
Expect the unexpected -- and buy insurance to cover any resulting losses.
Take steps to protect your nonprofit from legal problems.
Learn the basic steps that any nonprofit can take to prepare a solid and functional strategic plan.
One of the fundamental tasks facing the founders of any nonprofit is establishing a board of directors to oversee the organization. The board plays an essential legal and practical role in any nonprofit, even if others (such as an executive director, paid staff, or volunteers) handle the organization's everyday affairs.
Nonprofit corporations are entitled to grants, tax exemptions, and limited liability protection.
Any name used for business (also sometimes called a trade name) that doesn’t contain the legal name of the owner/sole proprietor is called a fictitious business name (FBN).
In order for any business to succeed, it must have enough customers to buy the product or service offered. Before you launch your new business, take time to evaluate your potential customer base. Figure out whom you expect to be your most likely customers -- in other words, your target customers. Then tailor your marketing efforts, as well as your products and services, to those customers.