Top Ten Legal Concerns Business Owners Need To Know Now!

You’re a busy business owner wearing many hats – you’re always marketing your business, constantly trying to secure clients and collect your fee for services rendered or products delivered. You know the importance of having your legal affairs in order, but there aren’t enough hours in the day to do it all, or perhaps there isn’t enough money to pay a professional to handle those matters.Many entrepreneurs and business owners face this challenge. But it is crucial to address certain legal concerns so that you can remain in business and do so successfully. Here are top concerns you need to know and address… right now! This is not a comprehensive list, and all may not apply to you, but they are general concerns to be considered.1. Choosing the Right Business Structure. There are four (4) basic structures – the sole proprietorship, general partnership, corporation and limited liability company (LLC). The riskier your business, the more you need to shield yourself from personal liability for any debts or wrongdoings of the business. Operating your business as a sole proprietorship or general partnership means that you may be personally responsible for claims brought against your business or for paying its debts. One lawsuit could destroy your business. Carefully consider the pros and cons of each structure and determine which one works best for your business.2. The importance of good legal record keeping. Maintaining good records is a must, particularly with a corporation which is legally required to keep strict records of meetings and other actions required to be taken by its Board of Directors or shareholders. The failure of a corporation to keep adequate records could mean that its “corporate veil” is “pierced” and essentially the corporate status is negated. A third party bringing an action against the corporation may be successful in attacking the personal assets of the shareholders, and in some cases, those of the directors or officers.3. Entering into Formal Agreements with Co-Owners. So many people are in business with others – family members, close friends or business associates and without a formal agreement. This is a MUST, regardless of the relationship. The reality is that business relationships don’t always go as planned and owners may need to ‘divorce.’. Without an agreement which makes it clear as to the ownership interest each person has, how and if interests may be transferred, the duties of each owner and terms of any non-compete clause, the departure of an owner or dissolution of the business can be difficult and costly.4. Entering into Formal Agreement with Third Parties. Failing to document business arrangements in writing has been the downfall of many businesses. Common agreements include (i) consulting agreements with agents acting on behalf of the business; (ii) employment agreements for key officers; and (iii) non-disclosure agreements to preclude third parties from disclosing confidential information about your company. Also consider agreements that prohibit consultants or employees from competing against the business and/or soliciting agents or employees of the business (or include such provisions in an existing consulting or employment agreement). Without a non-compete or non-solicitation agreement or provision, a business could lose a significant of business to someone who has gained knowledge of your business and the specific industry and then snatched your clients and trusted employees/agents.5. Labor and employment. In order to avoid issues with the Internal Revenue Service (IRS), be clear as to whether someone working for you needs to be classified as an employee, or whether they are a consultant. The general test is whether the person is instructed by the company as to when, where and how to work. In some cases, the IRS has fined a company for not properly classifying a worker as an employee and back employment taxes are imposed, resulting in a great financial burden for the business. The possibility also exists that a claim may be brought by consultants who then maintain that they are employees and are legally entitled to certain benefits such as workmen’s compensation or unemployment insurance.6. Entering into a Commercial lease. If you operate your business outside of your home, it is best to have a written agreement to ensure business continuity. Negotiate the right lease term, rent amount, etc. Without a written agreement you run the risk of the landlord asking you to leave even if you are a good tenant, and generally with just thirty (30) days notice. This could result in a significant loss of business income – having to move could mean the loss of good clients and a serious business interruption until a new space is secured.7. The impact of taxes on your business and its owners. The four basic business structures all have different tax consequences and could therefore affect your bottom line differently. Discuss the tax reporting of each, and how each relates to your personal financial situation, with your tax advisor.8. Raising Capital to Grow Your Business. Many business owners seek to grow their business through equity offerings to investors. Ascertain the types of documents required to be provided to potential investors to ensure compliance with federal and state securities laws, and to ensure that proper manner of soliciting investors.9. Buying or Selling a Business or Assets. Conduct due diligence if you decide to sell your business or a significant amount of its assets or intend to buy another business. Evaluate all problems you may inherit if you are buying a business, such as pending lawsuits or outstanding debt.10. Protecting Intellectual Property. If your business uses a trademark or service mark, protect it against all others by filing an application with the U.S. Patent and Trademark Office. Similarly, confirm that you are not using a name that legally belongs to someone else, which could mean infringement, and a successful lawsuit brought against your company. This could be catastrophic to your business.

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50 Legitimate Work From Home Business Ideas and Opportunities That You Can Start Easily

Starting a business from home can be a bit straining given all the different possible business ventures available. There are a lot of ideas for business from home nowadays and if you have limited resources, you might find yourself a little too confused at which to choose. Or if you already have an idea of what you want to offer, you might be hesitant because of some legal considerations that you need to think about.The easiest way to choose what kind of business to start from home is to think about your basic strengths and assets. From this, you will be able to determine the kind of business from home that you want to start. You will also need to think about the pros and cons before you start your own home based business. It is okay if it takes you a lot of time to think about what business venture to choose. After all, it takes patience to achieve success.If you are still a bit confused then let me give you a few business ideas that you could try.Here are 50 legitimate works from home ideas that you can refer to if you are quite confused on where to begin.Simple Services As A Home Based BusinessThis kind of business venture is most ideal for those that have lesser capital or to those that have none at all. This is usually just small scale and may require most of your time. For this type of home based business, you won’t need to utilize much space at home as well. Although there may be times that you will need to conduct your service at home like in babysitting or in pet care servicing.Service-oriented businesses may range to the simple services that you could offer like babysitting to the more skilled type like painting or electrical repair services. Your initial clients are usually friends or neighbors. However, do not be bothered if business is not a mega success at the beginning. Once people see the quality of service that you offer and provide clients will just come faster than you expect.This is the type of business venture that is easiest to start because of its nature. Basically, you won’t need much supplies or materials to start service-oriented businesses. Take note though that although this type of business venture requires low capital, it might require a lot of your time. In some cases, this may require you to provide services at the homes of clients.Although this is way easier than the other business ventures that you can try, this also requires more effort on your part. Your performance will be the sole determining factor that will encourage people to hire your service. To develop your business, you will also need an endless supply of creativity to constantly improve the service that you provide. Your creativity is particularly handy when you want to start pet care or painting services.Some services may also require an appropriate amount of training like computer knowledge when you want to start a bookkeeping service business. There is also training needed when you want to start a repair service business. However, in this type of business, you won’t need any license, though that may increase your probability of being hired.If you are the type who has big plans in the future but doesn’t have a capital to invest in a home based business, this could also be the perfect business venture for you. It’s true that it may take time for this type of business to grow but trust me, couple with determination and the nest quality of service, your business might grow into a lot more in the future. Think that most huge and established businesses that offer these types of businesses started off as small-scale. This could be your stepping stone in making it big in the service oriented industry.Child care
Elderly Care
Home cleaning services
Yard cleaning services
Bookkeeping services
Repair services
Pet care services
Painting ServicesKnowledge and Expertise Based Business from HomeIf you are the type with the skills and expertise that you want to share, then this is the type of business venture that you can start. Most people nowadays prefer to take up lessons in private, whether at your home or in their homes because it is more convenient for them. This is advisable for those that have more time to spare or for those that don’t have kids at home that could disrupt lessons or your work.This is ideal for those with the talents and readily available instruments or materials needed for the business to start. This type of business may also require a lot of your time but if you share your skills that was your hobby before, starting this business could be stress relieving and enjoyable for you.In this type of business, particularly with those that provide lessons and tutorials, you will need to invest a lot of patience because most of your clients will be young people. This is because most parents would want their kids to acquire talent while they are young. So besides your incredible skills, you will need a handful of patience as well. You will also need to make sure that you are able to communicate properly because that will be one the factors that might or might not motivate clients to hire your service.This is also easy to start because you won’t need much material. You don’t have to worry much about legalities when starting this kind of business because this is usually small scale. However, if you are planning to venture into a food business, you will need to consider asking local authorities regarding permits that you will need to secure.
Private tutorial
Music Lessons
Dance Lessons
Arts Lessons
Arts and Crafts
Catering Services
Events Planner
Buy and Sell
Professional Services As A Work From Home BusinessThere are more and more professionals nowadays that prefer to work on their own rather than working for a company. It gives them more authority and gives them more opportunities to manage their time. This type of business mostly requires permits and some form of training and certification so you could start. However, if you are already a licensed professional and has established a good reputation for yourself already, all you need is just a little capital to invest for materials and supplies that you would need.In starting a small business from home that offers professional services, you would usually need to spare a room or a space from your home that will serve as your office. This is because clients that seek your services will need to consult with you. Although there is a possibility for you to utilize online resources for some of the home based business that require professional services, most still need personal contact or conversation.You will also need to invest in advertising since there is also an increase in the number of professionals that put up their own home based businesses. There may be a need for you to hire staff if you have some capital to spare. This will just lessen your trouble with filing and documentation but you can always just start off without any. This will just depend on how much you can afford to spend initially.When it comes to legality issues, you will need to coordinate with local authorities regarding required permits that you need to secure. This is because some of the type of professional services that you would need to offer need certification. Good quality service will be your winning edge compared to your other competitors.Landscaping
Interior Design
Accounting Services
Real Estate
Plumbing Services
Photography Services
Family Clinic
Tax preparer
Sewing and AlterationsHome Based Businesses That Require Space For Putting Up ShopIf you have a room or space to spare at home, then this is the type of business venture that you can start. You don’t have to build a whole new establishment when starting this kind of business. Although in this type of business, you will need to make sure that you live within areas where people usually go by. This is because the type of business that you will put up needs to be visible to people for you to attract clients. You will also need to invest relatively a lot.In this kind of business venture, you will also need to emphasize on your marketing strategies since this type of business requires the best marketing and advertising strategies to work. Furthermore, you may also need to invest on hiring staff since basically; you won’t be able to run this type of business all alone.This kind of business is ideal for those that are willing and have available capital to invest. Although this business requires a lot of investments from you, this also is the type of business venture where you can see returns to your investments faster.This is the type of business where you will need to utilize your connections more. When I say connections, it does not only refer to seeking possible clients but it also refers to possible suppliers that can help you establish your business. In putting up small scale shops, you need to make sure that you are able to locate suppliers that are affordable and efficient so that you don’t jeopardize the quality of service or products that you will offer once your business already operates.Bear in mind that in putting up a shop, you will need to compete with a lot of different shops as well. These competitors may be home based and most will be shops that are already established. You will need to ensure that what you can offer is the best product of service. This is where good business planning is most needed.You may need to secure legal documents when you want to start this type of business from home. It isn’t exactly that complicated because legal permits are particularly because your business has the tendency to attract people thus increasing the amount of traffic in your area. Also, it may require some permits to secure. But just like I mentioned, with the proper planning, this kind of business can return your investments faster than the others.Car wash
Family Restaurant
Laundry Shop
Library or bookshop
Auto Mechanic Shop
Beauty Shop
Flower Shop
Small retail shop
Pet shop
Candy Shop
Bed and Breakfast
Party Needs Rental Services
Food stand
Spa and Saloon
WoodcraftOnline Business Opportunities That You Can Do From HomeThis type of business venture is one of the easiest to start if you have the skills, knowledge and resources. People rely on technology nowadays. Because of the change in the lifestyles of people today, they tend to rely on computers for their convenience. With this in mind, you will be able to know how to approach the field of online business wisely.Although this is one of the easiest, it also may require some form of training especially of you plan to start a computer consultancy business. People don’t just need assistance but they also would need quality services. With all the demand for online jobs these days, you will also have more competitors to outshine making this type of business the most competitive among all.You will only need a little capital to start this kind of business. Firstly, you will need your knowledge and skills with computers. You will also need a computer and a fast and reliable internet connection. People expect quick and efficient service so it is strongly advisable that you invest in good quality materials if you want your business to succeed.You also won’t need to think much about legalities since there are only a few legal considerations when it comes to putting up online businesses. There are a lot of articles and books that you can check online for guidance and reference.Computers are today’s main source of convenience. This makes it easier for you to market your service since most people nowadays own computers. Furthermore, besides being amazingly knowledgeable with computers, you will also need to be creative.There are a lot of people that has skills and knowledge but only a few have fresh ideas and creative talents to offer. This should be your major marketing strategy to enhance the probability of attracting clients.This type of business does not usually require you to do home service except for computer consultancy. That is why you will also need to educate yourself regarding accounting matters. This is with regard to the payments of your clients. Unlike with regular businesses where they deal with clients on a personal basis, you only deal with clients online. This makes it harder for you to ensure that your service is being paid. An adequate amount of reading and research will help you overcome this challenge.Online Shop
Graphic Designing
Print advertising shop
Online tutorials
Copy reading services
Computer ConsultancyHome based businesses can range from service oriented business to those businesses that would require you space to put up a shop. There is also some businesses ideal for professionals and there are some businesses that can be started without much training from school.There are a lot of ideas for starting a small business from home. It may be confusing but with the just the right amount of determination and planning, you will be able to know where to start. Your skills should always be your most important determining factor when you are unsure of what business venture to choose.You can also think about the resources you have available. This will help you decide. In starting a small business from home, you need to make sure that you are fully prepared. This means that besides the brilliant ideas, you will also need careful planning and wise implementation.Thinking about the legal considerations in starting your business should be part of the planning process. Although starting a home based business is practically easier to do than starting a huge business, you must still make sure to cover all the necessary requirements so you won’t encounter any problems in the future.The decision to start a business from home could be one of the wisest things that you can do. It is one of the easiest types of business ventures yet it’s also one that requires a lot of determination and will. Since you are the only one that is solely responsible for all the decisions made in your business, you will also be the one most stressed and pressured. But don’t take this negatively. The nature of starting this type of business must be a challenge for you. It is very easy to start a business from home but it could also be very challenging.After thinking about what type of business venture to go into, you must prepare yourself for all the possible risks and challenges that you might encounter. Planning is one thing, implementation is another thin. After you know how to start a business from home you must also think of ways on how to maintain that business. After all, being successful in a home based business is not determined on achieving your goals alone but it’s also on how you maintain that success.

Smart Companies Seek Security Measures for Their Construction Sites

Whether you’re in the niche of the construction industry or you own a quaint little bakery, your business requires security measures to be implemented for the sake of your investment. Think about how hard you have worked to make your business what it is today. How would you feel if vandals or thieves took all of that away from you?Regardless if your company is located in a highly-populated urban setting or in a remote desolate location, anything can happen. Did you know that the more remotely located you are the bigger of a target you become? Some vandals scope out sites that are set apart from the city as they have less of a chance of being caught.You might be wondering what it will be like to hire a security agent to watch over your construction site or small business. The answer is simple, it’s all based upon your needs. When interviewing agencies, be specific about the demands of your company and the issues you feel you’re facing or issues that could arise.It’s no secret that high-profile companies, such as those in the construction industry, house large pieces of equipment that are expensive. You also may have numerous pieces of metal stored on-site that illegal scrap merchants will love to get their hands on. When these materials are left unsecured, they can be stolen or vandalized, costing you both time and money to replace.Consider hiring a security guard or guards to look after your property. You might only need guards during the night hours when you are not there, or around the clock supervision. The choice is completely yours. It is a good idea to look into the background of all potential hires to ensure they are upstanding citizens who have the same high standards that you do.Take the time to devise a protocol plan detailing your expectation both before a shift begins, during, and when it ends. This will help you detail to your security staff what your goals are and how you want things to be done. This is also a time to answer any questions and clear up any discrepancies. Doing this allows your security team to all be on the same page.Each piece of equipment should be checked for damages at the beginning and end of each shift. Have your crime inspectors keep a log of all findings and remind them to report any issues to you or your management team instantly. This is a great practice for any business to deploy regardless if there is heavy-duty equipment on the premises or minor appliances.Construction companies have so much to lose if they fall prey to break-ins. Think about everything of value within your site. If any of your tools were stolen or compromised, this not only causes you frustration but it can also cost you your clients. How can you complete a job without your equipment? You can’t. Security monitoring can prevent this from happening.Consider hiring an agency that employs SIA certified security guards. Experience and training go hand-in-hand on the crime prevention industry. You want to know that when you go home at the end of the day, your property is never compromised and is being secured by the best of the best.Know that if you have overnight workers on-site at your company that their safety is uncertain without proper security measures put in place. Put your mind and your employee’s minds at ease and secure a safe work environment through the implementation of highly skilled security personnel. You’ll be glad that you did.