Family Is The Main Factor For Couple Initiating Business Startup
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporationposted in Business Formation & Planning on Thursday, April 9, 2015.
Many times people come to points in their careers where they are forced to choose between various paths to be taken. The factors a person takes into consideration can include financial reasons or even more emotional reasons. Sometimes taking one's family into consideration is a key factor in deciding on a particular career path. This was one of the main factors that inspired a married couple living outside of California to begin a new business startup company.
The founders of the company, named Biomilab, decided to open the new venture after working in various cell biology laboratories at a university. At one point the couple was forced to find new laboratory jobs, which could have meant having to pack up and relocate their family. The couple was hesitant to do this due to their 14-year-old son. This is when the couple decided to open their own laboratory facility.
The business model calls for the creation of an experimental laboratory facility that scientists would utilize to conduct experiments as subcontractors for academics who do not have the required time, resources or space to carry out the experiments themselves. The new startup company purchased a building that used to be a union hall. The couple has already spent several months renovating the old building. The new company is now well under way to starting business.
This story may be inspiring for many would-be entrepreneurs in California looking to initiate a business startup company. However, in order to start a new business, significant startup capital is often required. In order to obtain funding, a business plan will be needed as part of a legal compliance plan. The compliance plan will ensure the applicable rules and regulations are followed in order to ensure would-be investors that the company is protected from future lawsuits.
Source: lansingstatejournal.com, "Ex-MSU researchers build startup science lab in Lansing", Lindsay VanHulle, April 6, 2015