By Barbara Brabec
To be successful in a small or home-based business, you'll need more than a professional image and attitude. You'll also need information on the business essentials--marketing, promotion and legal tips.
The following tips address some of the common legal issues related to starting and operating your business.
1. Independent Contractors--You may think it would be difficult for anyone to find out that you're using independent contractors, but a lot of companies have been caught when an independent contractor is let go for some reason or is injured, then files for unemployment insurance or employee benefits under worker's compensation. This kind of action from one of your independent contractors would bring your company under the kind of scrutiny that could prove financially disastrous.
2. Business Name Renewal--Be sure to find out when you have to renew your local business name registration. You won't be notified about this and you wouldn't want to lose the name over such a technicality.
3. Federal Regulations--Even the smallest homebased business must comply with a variety of government regulations enforced by local, state and federal agencies.
4. Incorporating a Business--Do you need a lawyer for this? Legally, no. For peace of mind, yes. Books in the library may give you the how-to steps for setting up your own corporation, but the time you spend trying to figure everything out will take valuable time away from your business. If you can afford to incorporate, you ought to be able to afford an attorney to take care of the matter for you.
Barbara Brabec is the author of HOMEMADE MONEY (Betterway), now in its fifth edition. Her book addresses every issue relevant to the operation of a homebased business. In bookstores or through the author's website at www.barbarabrabec.com.
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