Let us think about the business of operating a recording studio. All businesses operate according to a basic equation: revenues minus expenses = profit.
This sounds simple, and indeed, with some pre-planning and careful follow-through, it is easy. However, the failure rate of small businesses is very high, mainly due to poor planning. How can start with the basics:
1. Choose a legal structure, sole proprietorship, partnership, society, etc. Now is theTime, seek professional advice from a tax adviser and perhaps a lawyer.
