Since the creation of the music industry, artists have been scrambling to find the address to major record labels in hopes of effectively shopping their demo and signing a record deal. Those days are long gone, though because new technology is making it easier to not only record and distribute your own music, but now you can start your own record label with very little effort, and nowhere near the capital.
Shareware, freeware, and open source software are typically free or extremely inexpensive to obtain. Programmers and software developers create these accessible programs in order to establish their credibility in their field of expertise. This benefits you because it allows you to get your hands on the equipment you need to record your own demos and albums.
Social networking and social media programs on the internet also make it very easy to share your music with friends and family, and also to start building a fan base. You can establish yourself as a credible, quality independent musician or artist without the usual marketing and production that can take months to create. The need for administration becomes negated and will save a lot off stress and time.
Next you will need to decide if you want to manage a sole-proprietorship, a partnership, or a corporation. This depends on how many people are involved in decision making, investing, and who makes profits. Obviously, the first option is a solo, independent business. The second option explains that multiple people equally invest and benefit and third represents most of the record labels that you know about. These are large businesses with varying levels of employment and require legal counsel before establishing.
Once you know what kind of business you want to run, you need to file for your tax ID. This puts you into the taxman, so you have to pay the necessary taxes, but it will also allow you to take advantage of the tax benefits that go along with owning your own business and band administration manager with minimal fuss.
