4 Signs You Need a Business Attorney
Did you know that 20% of businesses fail within their first year? By their 10th year, only about 33% are still surviving. How will you protect your business from this fate?
While marketing and planning are key when it comes to the growth of your business, you also need to consider the importance of a good business attorney. They can walk you through all of the complicated legal issues that come alongside business ownership.
Not sure if you need a business attorney at this point in your career? Read on to learn when it’s a good idea to hire one.
1. You’re Struggling to Grow or Get Started
If you’re trying to grow your business but you’re still in the early stages, it might benefit you to hire a business development attorney.
A business development lawyer will help you turn your idea into a real business plan. They can help you figure out how your goals can come to fruition and keep you on track to reaching your full potential.
They’ll also make sure that you’re following the law so you don’t run into problems in the future. By the time you present your business plan to investors, you’ll be ready to go.
2. You’re Hiring Employees
Whether you’re hiring your first few employees after being a one-person operation or you’re adding new team members to pre-existing employees, you may benefit from a business lawyer.
A business lawyer knows all about employee protections, requirements for payment, and basic employee training (such as harassment training and safety training). They can help employers avoid lawsuits regarding legal break times and payment.
Avoid the potential of an employee discrimination or wage theft lawsuit by hiring a professional to take care of things for you.
3. You’re Dealing With Tax Issues
Taxes are complicated when you’re running your own business. It’s no longer enough to file your own taxes with a W-2. You have a lot more on your plate.
While you’ll need an accountant to get you started, a business attorney can help if you run into problems. Every transaction that your business is involved in will change your tax situation.
If you get audited, you’ll run into major problems. Avoid those problems (or fix them if they’ve already happened) by hiring a business attorney.
4. You Need Help With Legal Documents
Often, business legal documents are full of complicated “legalese.” It can be difficult for a business owner to navigate them.
You must understand documents that are legally binding once you sign them. A business lawyer will break them down into easily-understandable terms so you don’t sign anything that goes against your best interests.
They’ll also be able to recommend changes to documents before you sign them. This will benefit your business overall and protect you from complicated future lawsuits.
You Need a Business Attorney
A business attorney can save your business as long as you know how to use them. Whether you’re just getting your business off of the ground, you’re trying to grow, or you’re facing tax or legal issues, a business lawyer will help you.
Take advantage of their services to protect your business.
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