As we head into 2018, it’s a great time to focus on your small business and set goals for the upcoming year. The professionals at LexLaunch.com have 5 New Year’s Resolutions that can keep your company in good legal standing and reduce risk during the new year.
- Incorporate your business. This is always our #1 resolution for any small business. Taking the time to formally incorporate your company provides risk protection and possible tax benefits as well as protecting your personal assets. It also gives your business added credibility to new and potential customers. LexLaunch.com provides simple solutions with real attorneys to make this process quick and easy for any business owner.
- Update your records. If you have already formed an LLC, it’s a good idea to make sure the appropriate address is on file with your state and make sure your annual minutes are up to date. It’s also a good idea to review your bylaws, your operating agreement and any partnership agreements pertaining to the ownership of the business. The professionals at LexLaunch.com can create a checklist of items to review and help answer any questions you might have during the review process.
- Meet with your advisors. While meeting with an attorney once a year for a business review is important, you should consider meeting with other professionals as well. You might schedule an appointment with your accountant, financial advisor or any other business consultants that can help you gain a clear picture of the state of your business. These professionals can also update you on the latest business trends and any new regulations that could affect your company.
- Develop a business plan. Once you’ve met with your advisors, it’s time to make a formal plan for the year. A business plan puts your goals and projections on paper and allows you the ability to track and measure your progress throughout the year. It will help you focus throughout the year and see how far you’ve come. Schedule quarterly reviews of your plan in your new 2018 calendar.
- Settle your disputes. If there are any unresolved issues carrying over from the previous year, try to resolve them in 2018. Outstanding grievances can take your focus and energy away from growing your business. If you cannot resolve the matter on your own, meeting with an attorney that specializes in small businesses can help you decide the next best steps to clearing any outstanding differences and clearing the path for a more positive new year.
While there are many more resolutions that you might want to add to your list for 2018, these 5 suggestions can help reduce your risk and put your business on the path to success. The professionals at LexLaunch.com thank you for your support this year and wish you all the best for a great 2018! If you’re ready to plan for the upcoming year, make an appointment to speak to a legal representative to learn more about how you can decrease risks and protect your business in 2018. Call the professionals at LexLaunch.com today at (816) 434-6610 or click here for more information.