Running a business in the United States is a tricky challenge. On one hand, small businesses accounted for 99.7% of all employer firms in 2009. On the other, out of the nearly six million firms with employees that year, over 10 percent have been forced to shut their doors for one reason or another. With such a high turnover rate, the occasional trip to the law office might not cut it.
Reason No. 1: Proper Preparation
Small size makes it easier to keep track of everything in a business. On the other hand, the small scale also makes it easier for personal conflicts to come to the fore. Without professional help, at any level above a sole proprietorship it can be very easy for a co-founder or co-owner to block your business decisions, obstruct business opportunities, or simply sell off any stake he might possess to a third part – and you would be powerless to stop them. Moreover, a lawyer will also help you identify potential pitfalls in the documentation before they come in force.
Reason No. 2: Hassle-Free Operation
The biggest disadvantage of trying to do things yourself is that you can never be certain that you have done everything correctly (unless you have a law degree yourself, of course). Is the contract worded correctly? Is there a conflict of interest? Has everything been done correctly when you had to discharge that employee a week ago? A lawyer gives you not only expert advice, but also peace of mind so that you can focus on what’s important: Growing your business.
Reason No. 3: Exiting with Grace
Of course, sometimes even the best business idea doesn’t go anywhere. Maybe the time’s not right, maybe it’s the economy. Shuttering a business can be a nightmare if you don’t follow the proper procedure and attend to a myriad of little details that can come back and hurt you in the long run. Hire a Kent business lawyer who will help you work out an exit strategy and plan for every scenario – including damage control when worst comes to worst.
It’s Just Good Business
The primary reason for hiring a lawyer to aid you every step of the way is that it is simply a good business decision. Consider it a long term investment, with returns making themselves apparent every time you narrowly avoid damages or lengthy litigation that ruins your wallet and your health.
Are you looking for an experienced lawyer who can help you navigate the byzantine business law system at work in the United States? Contact John Grundy today and prepare for the future.
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