Essay Example on Reasons why you need a business lawyer for your start up

Reasons why you need a business lawyer for your start up When you decide to start your own business venture you plan to handle most of the daily tasks on your own It is solely your decision to grow your business manage the cash flow manage customer requests and complaints or plan a specific marketing strategy Once your business starts growing you may add other people to your staff to help you Still you will be occupied as you will need to manage staff and resolving things It may be a difficult situation when some legal issues come up In such cases you need a business lawyer to resolve the legal problems The article will help you understand the reason why you need a business lawyer for your start up Many people seek help from online channels to do the job but that won t help them deal with legal issues for their business as only an experienced business lawyer can help you fight legal issues Manage lawsuits At some point or the other you may need to file a lawsuit or defend yourself against the one filed by others Visiting the court can be an expensive affair It is not worth spending money going to the court to settle the dispute A professional business lawyer can manage the lawsuits on your behalf while you save time and money visiting the court In many cases the lawyer also prevents legal issues from turning into lawsuits Corporate structure Your business lawyer will evaluate your firm and help you choose the right corporate structure for your start up 

Many people ask why a business lawyer is necessary Of course it is as you may carry out all the without the help of a lawyer but it may result in a lawsuit and then you end up losing your business revenue Many business owners risk their business by not hiring a lawyer to save money The legal norms are changing constantly and to keep yourself updated about them is not an easy task but your lawyer can help you know about how the new taxes etc are going to benefit you as a small business owner The year 2018 has some new amendments in tax law wherein there is a win win situation for small business owners with almost 20 off deal 2018 will bring in some tax relief of about 20 of taxable income generated through business The main objective behind this new tax rule is to provide some room for the small business to grow in comparison to large corporate businesses as they get higher tax benefits Small businesses owners can utilize their tax savings in various other business related activities like purchase inventory recruit new employees increase the wages of their employees pay off their debts expand the workspace etc Apart from the benefit of tax reduction in your business income many business owners can now benefit through reduction in personal tax rates as well Similarly other new laws can help you avail the benefit for your start up and in order to know which rules are applicable to your business and which ones aren t is better described by your lawyer who is updated with changed and latest laws