Given there are 33.2 million small businesses in the United States, I find it’s a good idea to periodically reach out to people in my network and see if any have plans to open a small business — and that’s exactly what I’m doing today!
If you or someone you know is planning to start a small business, I want to note that our office is here if you need any legal assistance – and unfortunately, many do. I don’t say this to scare you, but the stats do speak for themselves:
- 36% to 53% of small businesses are sued every year.
- 43% of all small businesses are threatened with a lawsuit every year.
- Approximately 45% of small businesses are currently involved in litigation.
- 90% of all businesses experience a lawsuit at some point in their lifespan.
- Around 12 million contract lawsuits are filed every year against small businesses.
The good news is that a lot of these legal issues are avoidable. Business lawyers can help to clarify any loopholes in a contract, make sure clear guidelines are set between employees and owners, and even provide ways to back out of a contract (e.g., due to a change in business strategy). This kind of assistance is especially necessary in the first couple of years when owners will be interacting with many new faces.
With that said, if you or someone in your network is considering opening a business or is in the process of doing so, feel free to reach out.
Ravosa Law Offices, PC 