Two Times When Your Business Will Need A Lawyer
When it comes to creating a business that can stand the test of time, there are various different building blocks you must identify in order to build a strong foundation. To put it simply, you should be aware of the different ways you can protect your business from all kinds of problems, be they financial or legal.
For example, you should work to get your business finances in order sooner rather than later, so that you can continue to invest in new projects or keep your business afloat. However, you should also consider seeking legal help.
Many business owners make the mistake of believing that legal help is unnecessary unless you land yourself in legal trouble. And while this thought process is certainly logical, working with a lawyer ahead of time reduces the chances of such an event occurring in the first place, while also ensuring you have the procedures in place to reduce damages or complications should the situation arise.
With that in mind, here are two examples of times when your business may need a lawyer.
To get you started on the right track.
Most small businesses start out as solo ventures, which is likely why you may not think to hire a lawyer at this stage. However, working with a legal provider can be a great way to get your business started on the right track. For example, they can help you ensure that you acquire all of the necessary permits or licences to kickstart your business, and that any necessary legal paperwork is carried out without a fault. As you begin to hire new employees, they could also help you keep up to date with employment and contract law.
To ensure you’re on top of your taxes.
Many small business owners make genuine mistakes when filing in tax returns, but the ramifications can be severe. For example, you could face serious legal consequences that result in the closure of your business. As a result, it may be worthwhile to reach out to a corporate tax lawyer ahead of time who can ensure that you have all of the necessary paperwork in order. They can also help you to find ways to legally and ethically reduce the amount of tax you have to pay as a small business owner. This is great news for those who may be trying to better their financial situation.
To ensure health and safety regulations are met.
Whether you’re running a retail store or factory, the health and safety of your employees should be a major priority. However, good intentions alone are often not enough to guarantee safety, meaning you must have policies in place that will support their wellbeing. Not only is this important from a moral standpoint, but a legal one too. As such, working with a lawyer can ensure that your health and safety regulations align with government regulations and laws regarding safety in the workplace. Doing so will ensure that you are not at risk of being sued should a situation arise.