Location….
Where you do business is very important. Very well said and obviously, you would want a location where you can do a lot of business and reap in as much profit as possible. Wherever you decide to do business, take time to reflect on these various concerns.
For example, would you want a Home-based Business? If you intend to do business in your home, it would be best if you minimize the interference that your business may create. Likewise, study your master deed first for possible use restrictions to your unit if you are living in a condo. Ask permission from your landlord and convince him that your business won’t cause any damage to the property, disturbance, or liability claims for the landlord. In addition, acquaint yourself with zoning laws (e.g residential, commercial or both). Check with your local zoning government agency or specifically your local municipality or city hall for possible problems since the place where you live is probably restricted for residential use only. However, you can petition for a special use exemption or a variance. Either one will allow you to still do business in your home, despite the restrictions.
Or do you want your business be established on a Leasing Property? If you are going to lease space in a commercial center, make sure that you read and understand thoroughly the provisions and language of your lease/contract before signing it. Bear in mind that if it is not in your lease, then you or the landlord has no legal obligation to perform anything not covered by it. Moreover, you or the landlord has no right to demand anything not included in your contract.
Good Luck!!
Bong Corpuz & Co. CPAs 