If you are starting a new business, the type of business entity you decide to establish will have an impact on the extent of personal liability, how the business is taxed, its management, the level of formality required, and many other factors. There are a wide variety of options, which can make this decision quite overwhelming. Limited liability companies (LLCs) …
Are you considering leasing office or retail space for your small business? The terms of your lease can have a huge impact on whether your business succeeds or fails. There are several important provisions that should be considered before you sign on the dotted line. Leases of a certain duration (usually one to three years, depending upon the state) are …
If you are considering expanding your physical business or starting a home-based business, selling your products online is a great way to reach additional customers. Before you begin to sell products online, there are several legal issues you should be aware of to ensure that your business is compliant with the law and that your interests are protected. Business entity. …
Small businesses make a huge contribution to the U.S. economy. Nevertheless, starting a new business is risky. Lenders view loans to small businesses, particularly start-ups, as among the riskiest they make, particularly when there is little or no credit history or business revenue on which to base their decision. In an effort to lessen their risk, lenders frequently require small …
Federal law has required certain businesses to offer family and medical leave for decades. An increasing number of states have also enacted or considered passing laws requiring businesses to offer family and medical leave. For small businesses, these laws have distinct pros and cons. This article discusses some of the most important factors small business owners should keep in mind …
With the rising cost of health insurance, employers and employees alike are looking for the best ways to save money on medical expenses. One option that can be beneficial to both small business owners and their employees is the health savings account (HSA), which is available when an employee selects a high deductible health plan offered by the employer. What …
Cybersecurity is a growing concern for businesses, and small businesses are not immune from the threats posed by cybercriminals. Don’t be complacent because your business is small: Almost half of all cyberattacks in the U.S. are directed at small businesses. In recognition of this serious problem, in August 2018, President Trump signed into law the NIST Small Business Cybersecurity Act, …
More and more, transactions between small businesses and their customers, vendors, and service providers occur online rather than on paper. Yet some feel uneasy about the enforceability of these electronically-signed documents. Is an electronic signature as valid as a conventional handwritten signature? Under state and federal law, e-signatures are recognized as valid and enforceable: Most states have adopted the Uniform …
If you are starting a new business, it is important not to overlook federal, state, and local business license and permit requirements. Almost every business, even one that is home-based, is required to obtain some form of license or permit in order to operate legally. Failure to do so can lead to fines, and in some cases, the closure of …
As the economy improves, more and more entrepreneurs are considering starting or expanding their small businesses. However, most small business owners do not have the financial resources to do this without obtaining outside funding. If you are looking for funding for your business, you will need to provide prospective funders with a well-thought-out and professional business plan, regardless of the …
You’ve worked hard to build your small business. Nothing is more frustrating than negative online reviews, particularly if you feel they are unjustified or have been posted in bad faith. There are several steps that you can take to prevent your business’s reputation from being damaged by unfavorable reviews. Respond promptly and professionally. More and more potential customers are turning …
Every business with at least one employee should have an employee handbook, sometimes also called an employee manual or code of conduct, setting out the company’s policies and rules and the laws applicable to the employment relationship. It establishes the expectations in the relationship and enables employers to deal with similar situations consistently. Typically, employers do not intend for the …