Owning a successful small business is a dream many Denver residents have in common. You get to decide how much or how little you work while remaining in control of your future. This all sounds wonderful, but the success or failure of a new business cannot usually be predicted.
You will probably plan your endeavors carefully while you are in the process of business formation, addressing matters like building clientele and marketing. However, it is also wise to consider legal matters to help you avoid mistakes that could turn a potentially successful business into a failure.
Addressing the issues below can help you avoid many legal pitfalls. You can also seek guidance from a skilled attorney to reduce your risks of legal trouble.
- Choose your business structure and register it with the state. Business structure options include limited liability company (LLC), sole proprietorship, partnership and incorporation.
- Apply for the appropriate permits and licenses to ensure your company complies with Colorado’s small business laws.
- Study the state’s zoning laws while choosing a location for your business. This is something with which an attorney can help.
- Make certain that you acquire the right type of insurance to protect you, your company and any employees you may hire.
Of course, the list above does not contain all of the potential legal issues that you may need to address during your business formation efforts, but it can help you start thinking in the right direction. If you want to reduce your risks of encountering additional legal problems, consider asking a lawyer for guidance. Everything you do right now to minimize your legal risks can improve your odds of success going forward.