Commingling business and personal funds can cause many commercial law problems for small business owners in Arizona. All businesses, from a start-up company to a sole proprietorship, should have separate business checking accounts and records.
Like Arizona families, business must deal with the possibility that one of its members becomes incompetent to make important decisions. Business law allows for planning for the incapacity of an owner or principal and, when this occurs, the continuation of business operations and payment of employees and suppliers.
Anyone starting a new business in Arizona must confront many aspects of commercial law. Any business start-up, however, remains an idea unless there is adequate financing. The most common financing includes personal savings, money from family and friends, venture capital or private investor. Other business startups must rely on traditional methods, such as bank loans.