Quick Legal Tips for Starting a Small Business

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Starting a small business is an exciting time. You get to be your own boss, set your own hours, and build something from the ground up. But it’s also a time when you need to be careful and make sure you’re dotting all your i’s and crossing all your t’s. After all, starting a business is a legal process, and there are certain things you need to do to make sure you’re in compliance with the law. To help you out, we’ve put together some quick tips for starting a small business from a legal standpoint.

Make Sure You Have the Proper Licenses and Permits

Depending on the type of business you’re starting, you may need to get specific licenses and permits from the state or local government. For example, if you’re opening a restaurant, you’ll need to obtain a food service license. If you’re going into the construction business, you may need a contractor’s license. Do your research and make sure you have all the licenses and permits you need before starting your business.

Choose the Right Business Structure

Once you have your licenses and permits in place, it’s time to choose the right business structure for your needs. The most common structures for small businesses are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each has its own advantages and disadvantages, so it’s important to choose the one that makes the most sense for your business.

Draft Up Your Contracts

If you’re going to be working with other businesses or individuals—say, if you’re going into business with a partner—it’s important that you have all agreements in writing. This will help prevent any misunderstandings down the road and protect all parties involved should something go wrong. Even if you don’t have any partners, it’s still a good idea to draw up contracts for any services or products you’ll be providing. This will again help protect both you and your customers should something go awry.
When you’re hiring employees for your small business, it’s important that you understand all applicable employment laws . This includes things like minimum wage laws , overtime laws , anti-discrimination laws , and more. Familiarize yourself with these laws before bringing any employees onboard so that you can avoid any potential problems down the line.

Get Help From an Attorney

Finally—and perhaps most importantly—if at any point during the process of starting your small business you feel like you need legal assistance, don’t hesitate to reach out to us. They can help ensure that everything is being done correctly and advise you on what steps to take next. An ounce of prevention is worth a pound of cure when it comes to legal matters, so getting professional help early on can save you a lot of headache (and money) down the road.

 

Starting a small business is both an exciting and daunting task . There are a lot of moving parts, and if any one of them falls through, it could jeopardize the whole endeavor . That’s why it’s so important to get everything done correctly from a legal standpoint before moving forward . By following these tips, you can give yourself a much better chance at success.  And if at any point during the process you find yourself in over your head, don’t hesitate to get in touch with an attorney who can help guide you through whatever issue you may be facing .

 

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