Is your business compliant? Do you feel lost as a business owner? Maybe feeling a bit stressed that there’s something you were supposed to do with a legal entity that you didn’t realize? Let’s put your mind at ease. Check out the topics we cover where you can find free resources at your convenience, 24/7.
Be Strategic With Business Compliance
We give you resources to stay compliant with legal entity maintenance, contracts, and employer obligations. Rely on our experience for your success! Dana Ball has over 20 years of experience as a business attorney and business owner. Whether you are just getting started or have been in business for years, it’s always the right time to protect your business. Contact us today for a compliance strategy call.
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”Lawsuits can take a toll, it is distracting and can put you out of business. Get in touch with Dana today and save your business the setback a lawsuit poses.
Here are measures you can take to protect your business:
According to recent statistics, small businesses make up 99.7% of the workforce in the United States. Small businesses are important to the economy and we need you to be successful in running your business. Small businesses are also prone to common and avoidable legal mistakes. The two primary reasons why small businesses end up in court is from problems with either contracts or employees.
Don’t End Up In Court
How would your business survive a lawsuit costing $150k+ and lasting 2-3 years? You can’t control that one person who wants to sue you, but you can make it very difficult for any legal action to be successful. It’s up to you on how prepared you are. Small businesses deserve all the encouragement they can get, however, 20% of small businesses close down in the first four years of business. Sad, right? This could be avoided. Litigation causes more damage than good. Even if you do have enough insurance to cover the costs involved in a litigation suit, there are many other factors that money cannot help. These include:
- The emotional cost
- The cost of time away from running the business
- The cost of lost reputation
- Loss of staff
How Compliant Is Your Small Business?
Today, we live in an era of economic and financial volatility where small businesses have their work cut out for them. It’s a daily challenge to keep your small business competitive while hitting sales and generating profits. In a bid to stay in business, it is vital to carry out routine checks on your business.
On completion of this routine checkup, the challenges and problems the business is facing should be identified. The next step is to layout strategic plans that will help put the business in order. An attorney should be your first point of call for this exercise.
These regular checks help in ascertaining the profitability of your business by:
- Figuring out who your professional advisors are which should comprise people from other professions such as lawyer, accountant, insurance advisor, and a business coach.
- Ensuring that your business documents still suit your business needs as your business advances and grows. This should include reviewing and updating if necessary: the entity agreements (Operating or Shareholder), employee handbook, any policies, and procedures.
- Conducting scheduled training for employees to help them understand their roles and responsibilities. This will help them stay informed on any policy changes; update to job descriptions, and keep you in legal compliance with EEO regulations.
Don't Wait! Protect Your Business Today!
How would your business survive a lawsuit costing $150k+ and lasting 2-3 years? You can’t control that one person who wants to sue you, but you can make it very difficult for any legal action to be successful. It’s up to you on how prepared you are.