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Business Workshop Provides Valuable Information for Entrepreneurs

In a recent event hosted by the Shelby County Government, business leaders and aspiring entrepreneurs were given the opportunity to learn essential skills for building and growing their organizations. The event, which took place on Saturday morning, March 16, aimed to support individuals in navigating the complex world of business ownership.

One of the highlights of the workshop was the in-depth discussion on different business structures, such as operating as a sole proprietor or forming a Limited Liability Company (LLC). This session provided valuable insights for attendees to consider when establishing their ventures.

One attendee, Jacquelyn Bracey, expressed her appreciation for the wealth of information provided at the event. According to Bracey, the workshop covered a wide range of topics, including the process of obtaining licenses, securing loans and grants, and understanding tax implications.

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Additionally, the event served as a platform for entrepreneurs looking to do business within Shelby County. Speakers touched on important considerations such as the decision to apply for nonprofit status, tax obligations, and the significance of maintaining proper financial records.

Consultant Lynn Whitney emphasized the importance of including taxes in financial transactions to avoid potential liabilities. By ensuring that taxes are accounted for in invoices and setting aside funds for tax payments, entrepreneurs can effectively manage their financial obligations and avoid potential penalties.

Furthermore, the Office of Equal Opportunity Compliance made efforts to provide resources and support for minority-owned businesses. Shep Wilburn highlighted the county’s commitment to fostering diversity and inclusivity in the business community, aiming to empower underrepresented entrepreneurs and promote economic growth.

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