The small business start up guide - A sole proprietor takes on a partner or secures an investment from another person or persons who will share in the profits of the business, or when two or more persons team up to create and carry on a business and share the profits as co-owners, a partnership has been formed. Operating agreement is an internal document (it is not filed with the secretary of state or any other government agency) that establishes the rules and regulations for the conduct of the company's business and affairs, and the rights, powers and duties of the company's members, managers and employees. As shareholders of a corporation are protected from corporate liabilities, the owners or “members” of a limited liability company are generally not personally liable for the debts of the business, and a member's financial risk is limited to the amount of his or her investment. Partnerships and sole proprietorships are common business forms in missouri, many entrepreneurs and business people elect to form a statutory entity to take advantage of liability protection, tax benefits and generally recognized corporate structures, and so that they may raise capital in a traditional manner.
MJ Gottlieb & Gary O'Neil from Hustle Branding release a step by step guide for startup entrepreneurs on how to start a business.