Sierra Crest Business Law Group is a business law firm. We guide small-business owners over rocky legal terrain so they can protect and grow their companies. Let’s discuss the three biggest risks that small-business owners face today. The first business risk you have as a small-business owner involves employee matters. This can be something like discrimination or properly categorizing your employees as W2 employees or independent contactors. It can include things like excluding employees for purposes of wage and hour violations. It can mean having the right agreements in place so your employees don’t quit and go into competition with you. So, under this whole umbrella, I would say employee matters are a big source of risk for employers and a good reason they need to consult a business attorney. The second source of business risk you have involves your contracts. On one side, it’ll involve making your customer contracts crystal clear to your customers about what they’re going to receive in exchange for the money they pay your business, and when they’re going to receive it, and in what form, and just making sure there are no misunderstandings. It can also involve your business vendor agreements where you’re the customer and you need to make sure there are no misunderstandings about what your business is going to receive when it pays money to a vendor, when it’s going to receive those, and in what form. The bottom line is that you need to make sure your business contracts are rock solid. THE 3 BIGGEST RISKS THAT SMALL- BUSINESS OWNERS FACE TODAY
The third source of business risk is dealing with business partners and investors. There was a time when people prided themselves on conducting business on a handshake deal, and a lot of people still say that out loud now. But what I’ve found is that those people can tolerate a lot of ambiguity and like to come back to you later and remind you of their self-serving version of some promise they say you made, or they thought you made. And so you get a lack of clarity. In today’s world, to avoid confusion, if nothing else, you want to make sure your agreements with your business partners are rock solid. And with investors, they need to understand precisely how they will receive payment for the money they invest in your company. And there can’t be any surprises or missed expectations in that department. If you’re like many of our clients, you deliver a great product and excellent service, and you pride yourself on going above and beyond to serve your customers. With all that attention on outstanding customer service, you may not have time to watch every detail of your contracts and make sure you’re buttoning things up to protect yourself from risk. And that’s where we come in. We’d love to talk to you and counsel you about how you, as a business owner, can continue to deliver outstanding products and excellent service while, at the same time, protecting your business from the risks lurking in the background. We’re the Sierra Crest Business Law Group, and we love to guide small-business owners over rocky legal terrain so they can protect and grow their companies.
691 Sierra Rose Dr., Suite B Reno, NV 89511 775.448.6070 SierraCrestLaw.com
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