Top 10 Things Every Small Business Needs

by | Mar 14, 2015 | All Up In Yo' Business, General, LLCs, Running Your Business, Single-Member LLCs, Starting a Business

Top 10 Things Every Small Business Needs

A client recently asked, “What is the minimum paperwork that a small business needs?”  The answer: It depends on the small business.  A small business’s needs are going to vary depending on the type of business, the products/services being sold, the structure of the business, the goals and concerns of the business owner, the location of the business, and a whole host of other things. Since that doesn’t really answer the question, I’ve embraced my inner late-night talk show host and compiled a Top 10 list of the Top 10 Things Every Small Business Needs. Are you ready for it? Are you ready?!?! Here we go:

No. 10 of the Top 10 Things Every Small Business Needs:

Agreements.  Whether they are service agreements, independent contractor agreements, subcontractor agreements, etc., most small businesses are going to need some sort of an agreement in place to operate safely (in the legal sense) and effectively.  The type of small business you have will determine the types of agreements you will need to have in place. For example, as an attorney, I have a service agreement (called an Engagement Letter) with each and every client that makes it clear what I am going to be doing for the client, my fees, how the client can expect to be billed, what I expect or need from the client, my policies that affect the client, what happens if there is a disagreement between us, and so on and so forth. Most, if not all, small businesses that provide a service to their customers should, at a minimum, at least have a similar type of service agreement with their clients. It protects both the small business and the client.

Find out the rest of what a small business needs on the new episode of All Up In Yo Business. And be sure to subscribe to our YouTube channel for more All Up In Yo’ Business! It is a good great idea to consult with an attorney to make sure your small business has everything it needs to stay compliant with the law, protect the small business, and protect the business owners. Schedule a consultation to get started.

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