Russ Cook & Associates, PC
615-200-9117

Small businesses face big legal challenges

Did you know that small businesses in Tennessee added workers faster than any other state in 2017? This is according to data from Paychex, a national payroll provider. The data show that small businesses grew by 2 percent during 2017 in this state.

If you are a small business employer in this environment, then you are likely quite pleased with this growth. However, you might also be dealing with some growing pains if you are expanding your workforce.

  1. Getting set up-Setting up a business to begin with is a difficult process. You must think about what type of entity you will form, how you will operate and what type of budget you need to have. 
  2. Providing the right benefits for workers-Hiring workers is a major decision for small business owners, as is providing the right benefits. The number of employees you hire will affect the benefits you must provide, so it is crucial to think about this when you are starting up or when you increase the size of your business.
  3. Formalizing agreements-Growing can mean partnering with more people. You may have franchisees, commercial landlords, vendors, contractors and other parties who become part of your operation. As such, you will need to have enforceable, valid contracts that define the appropriate responsibilities and expectations. Some people make the mistake of working off informal agreements when they are starting up, and that can ultimately come back to haunt one or both parties.

Growth is an exciting opportunity for small business owners, but it also demands a careful assessment of your operations and practices. If you are adding to your workforce this year, or if you are starting a brand new business, then there are legal requirements and obligations you need to consider. To cover your bases and stay focused on running your business, you can consult an attorney who can manage these matters for you.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Schedule An Initial Consultation Today

Contact us today to schedule a consultation by sending us an email or by calling 615-200-9117.
We assist clients throughout the Nashville area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Back to top

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.

Images provided by Quinn Ballard