Online Class: Small Business Guide

This course will guide you on the main requirements of the regulations so that a business can develop a strategy for compliance.

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  • 11
  • 13
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  • 2,686
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  • 5
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Course Description

Navigating the Business Landscape: Essential Legal and Financial Foundations

Venturing into the world of business is a thrilling yet complex journey, one that is lined with a plethora of rules, guidelines, and often daunting regulations. From the initial spark of an idea to the establishment of a thriving enterprise, every step involves decisions with legal and financial implications. This course is meticulously curated to guide entrepreneurs through this intricate maze, ensuring they lay down a foundation that is not only compliant but also conducive to sustainable success.

Course Overview:

The path to business ownership is more than just selling a product or service; it's about ensuring every facet of your enterprise operates within the purview of the law, while also making savvy financial decisions to secure and grow your assets.

  • Regulatory Compliance: From the moment you conceive the idea of a business, various regulations come into play. This course unpacks the multifaceted layers of compliance, highlighting the importance of licenses, permits, and adherence to tax and employment laws. We delve into real-world case studies that underscore the ramifications of non-compliance, emphasizing the vital need for entrepreneurs to be well-informed.

  • Protecting Business Assets: Beyond compliance, a business’s longevity is intrinsically linked to how it manages and protects its assets. This encompasses safeguarding intellectual property, ensuring against unforeseen adversities, and understanding the financial avenues available for business expansion.

Detailed Course Breakdown:

  1. Registration of Business Name: Learn the nuances of selecting and legally registering a business name that aligns with your brand identity and meets legal criteria.

  2. Business Structures: Unpack the various business structures available, understanding their legal and financial implications.

  3. Sole Proprietorship and Partnerships: Dive into the simplest business forms, exploring their advantages, limitations, and suitability based on your business vision.

  4. Corporation: A deep dive into corporations, exploring their structure, benefits, and the responsibilities they entail.

  5. Limited Liability Company (LLC): Understand the hybrid structure of an LLC, its protective advantages, and its operational flexibility.

  6. Licenses and Permits: Navigate the regulatory landscape, understanding the various permits and licenses your business might require, from zoning approvals to health and safety certifications.

  7. Intellectual Property: Grasp the importance of protecting your business's intangible assets. From trademarks to patents, learn the process and significance of each.

  8. Taxes: Decode the complex world of business taxation. Understand the various tax obligations, deductions, and best practices to ensure compliance and financial health.

  9. Employees: Dive into employment laws, understanding your obligations and rights as an employer. Explore topics ranging from contracts to employee rights and benefits.

  10. Insurance: Recognize the various types of business insurances available, understanding their scope and determining which ones are vital for your business type and scale.

  11. Finance - Grants, Loans, and Venture Capital: Unlock the potential of various financial sources available to businesses. Understand the nuances of grants, loans, and venture capital, determining which avenue aligns best with your business goals and needs.

Why This Course?

In today's rapidly evolving business landscape, equipped knowledge is your most potent tool. This course provides you with a comprehensive roadmap, ensuring you make informed decisions that foster growth while minimizing legal and financial pitfalls.

Whether you're an aspiring entrepreneur or a seasoned business owner looking to refresh your knowledge, this course offers invaluable insights. Join us on this enlightening journey and lay down a foundation for your business that promises robust growth and unmatched success. Let this course illuminate your path, turning potential pitfalls into stepping stones toward your entrepreneurial dreams.

Course Motivation

Registration of a Business Name
Starting and operating a business involves many issues. For example, the business owner must comply with many regulations: federal, state, and local. Lack of compliance can result in penalties and sometimes even imprisonment. Permits and licenses must be obtained before the business can start functioning.
In addition, the business structure is very important. Some business structures afford greater protection in the form of limited liability for the owners. Some offer tax benefits, while others offer easier access to financing. The business owner must take all steps necessary to protect the assets of the business and know how to raise the necessary financing. He or she must be aware that all business income is taxed at one stage or another.
Once the business starts growing, it will need to hire employees. When a business starts hiring employees, there is another set of regulations with which it must comply.

The first thing you need to do after you decide to start your own business is to choose a name. The name must be unique to your business. People must be able to identify your business by its name. Every business is known by its name. Your business name is one of the most important assets of your business. You can name your business after yourself, but if you operate your business under a name other than your true name, you must register that business name with the county clerk or secretary of state's office as a "doing business as" (DBA) or fictitious name.

If you are doing business as a sole proprietor or partnership, unless the business contains your full legal name, and full names of all partners in case of a partnership, with no additions, the business name generally is considered a fictitious name. Corporations and limited liability companies all have fictitious names. 

Some states do not require you to register your business name. However, if registration is required in your state and you fail to register your business name, you could be in trouble. You will need the registration to open a bank account in the name of the business and to enter into contracts using your business name. Generally speaking, you must register within one or two months from the date you start your business.

The first step to registering your business name is filing a statement on a prescribed form in the county where you are doing business under the fictitious name. The form will be available at the county clerk's office. Some states require that you publish the statement in a local newspaper. Some states charge a registration fee. 

Before your name is registered, the county clerk will check the records to determine whether the name you want to use is already registered in another company's name. If it is indeed registered in another company's name, you will be required to use another name.

Some advantages of registering your business name are the following.

  • Being able to use it to conduct business with vendors and financial institutions.
  • Assuring that all the business's official records are associated with the business name.
  • Being able to take legal action under the business name.

State law governs business name registration. Therefore, if you trade in more than one state, you must register your business name in each state that requires registration.

The main reason why states require registration of business names is to enable members of the public to find out who is operating under a business name. Registration of business names also ensures that no two businesses operate under the same or similar business names, which can create confusion.

  • Completely Online
  • Self-Paced
  • Printable Lessons
  • Full HD Video  
  • 6 Months to Complete
  • 24/7 Availability
  • Start Anytime
  • PC & Mac Compatible
  • Android & iOS Friendly
  • Accredited CEUs
Universal Class is an IACET Accredited Provider

Course Lessons

Average Lesson Rating:
4.6 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(1,365 votes)

Lesson 1. Registration of Business Name

Starting and operating a business involves many issues. The business owner must comply with many regulations, federal, state and local. Lack of compliance can result in penalties and sometimes even imprisonment. 11 Total Points
  • Lesson 1 Video
  • Lesson discussions: Reasons for Taking this Course
  • Complete Assignment: An Introduction
  • Assessment: Lesson 1: Registration of Business Name

Lesson 2. Business Structures

Business structure is the way a business is organized, owned, and managed. The laws governing the business and its operations will depend on its structure. 10 Total Points
  • Lesson 2 Video
  • Assessment: Lesson 2: Business Structures

Lesson 3. Sole Proprietorship and Partnerships

Establishing a sole proprietorship is cheap, relatively uncomplicated,and easy; and it does not require any legal paperwork to be filed with the state or federal government. Once declared open, the business is up and running. 9 Total Points
  • Lesson 3 Video
  • Assessment: Lesson 3: Sole Proprietorship and Partnerships

Lesson 4. Corporation

Incorporation means the forming of a new corporation. In the United States, it is often referred to by its abbreviation, "Inc." A corporation is a legal entity created through the laws of its state of incorporation. 10 Total Points
  • Lesson 4 Video
  • Assessment: Lesson 4: Corporation

Lesson 5. Limited Liability Company

A limited liability company, commonly called an "LLC," is a legal form of business company offering limited liability to its owners. 9 Total Points
  • Lesson 5 Video
  • Assessment: Lesson 5: Limited Liability Company

Lesson 6. Licenses and Permits

Once you have decided on starting your business, you will have to get the necessary permits and licenses from the relevant government authorities. The permits and licenses vary among jurisdictions. 9 Total Points
  • Lesson 6 Video
  • Assessment: Lesson 6: Licenses and Permits

Lesson 7. Intellectual Property

Intellectual property means property of the mind or the intellect. Intellectual property is an important asset of your business. It is protected through law and can be owned, bequeathed, sold, or bought. 9 Total Points
  • Lesson 7 Video
  • Assessment: Lesson 7: Intellectual Property

Lesson 8. Taxes

All businesses have to pay federal income tax. Some states also impose income tax on businesses. 10 Total Points
  • Lesson 8 Video
  • Assessment: Lesson 8: Taxes

Lesson 9. Employees

Employees are an important asset. Hiring and managing employees involves many legal issues. A business with employees must comply with certain federal and state laws. 10 Total Points
  • Lesson 9 Video
  • Assessment: Lesson 9: Employees

Lesson 10. Insurance

As in life, nothing is certain in a business. There are many risks, some foreseeable and some unforeseeable. A business must insure itself against such risks. 10 Total Points
  • Lesson 10 Video
  • Assessment: Lesson 10: Insurance

Lesson 11. Finance. Grants, Loans, and Venture Capital

Financing is very important for any business. No business can survive without financing. There are different ways in which a business can raise financing. 60 Total Points
  • Lesson 11 Video
  • Lesson discussions: How would you rate this course?; Program Evaluation Follow-up Survey (End of Course); Course Comments
  • Assessment: Lesson 11: Finance – Grants, Loans, Venture Capital
  • Assessment: The Final Exam
Total Course Points

Learning Outcomes

By successfully completing this course, students will be able to:
  • Summarize registration of business name.
  • Summarize business structures.
  • Summarize sole proprietorship and partnerships.
  • Define corporation.
  • Define limited liability company.
  • Describe licenses and permits.
  • Summarize intellectual property.
  • Summarize taxes.
  • Describe hiring employees.
  • Describe insurance requirements and types.
  • Summarize finance options, including grants, loans, and venture capital.
  • Demonstrate mastery of lesson content at levels of 70% or higher.

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
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Document Your CEUs on Your Resume
Course Title: Small Business Guide
Course Number: 8900100
Lessons Rating: 4.6 / 5 Stars (1,365 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: This course is online and available in all 50 states including: California, Florida, Georgia, Illinois, New York, Pennsylvania, Ohio, and Texas.
Last Updated: October 2023
Course Type: Self-Paced, Online Class
CEU Value: 0.5 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Instructor: John Chouinard
Syllabus: View Syllabus
Course Fee: $120.00 U.S. dollars

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Student Testimonials

  • "Very straight-forward with lots of good information for starting a business." -- Chantelle P.
  • "Excellent instructor. I like receiving feedback from my instructors." -- Shannon S.
  • "This course was awesome!" -- Jerrie S.
  • "Thank you for your presentation and feedback." -- Daniel S.
  • "Thank you, you're an excellent instructor!" -- Rakisha C.
  • "All of it was helpful." -- Leah F.
  • "The overall information was great." -- Deborah C.

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