Locate your state’s Secretary of State home page on the Internet. Find information on forming LLCs. Answer the following questions and discuss your findings with your classmates.
1. Can the form be submitted online? If not can the form be downloaded or filled in using a computer?
2. What is the fee for filing the initial application and the subsequent annual filing fee?
3. Do you believe that you would need to hire a lawyer to complete this form or could you do it yourself? Why or why not?
4. After having viewed the Secretary of States site, discuss any recommendations would you make to facilitate the business formation application process.
If a start-up entrepreneur lacks certain competencies such as understanding cash flow or not knowing how to use social media marketing techniques, discuss at least three strategies the start-up entrepreneur could use to compensate for his or her deficiencies. You may also want to refer to Skill Module 2.2 on page 34.
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