Small Business Owner

21 Sep. 20

Small Business Law Alton, IL

Alton, IL Small Business Law

Starting a small business isn’t easy, especially if you don’t have a ton of knowledge or resources to put toward it. If you want to make sure you’re doing everything right when you start your small business in Alton, IL, we’ve got all the information you need to know.

Business Structure

The first legal issue you need to take care of when starting a business is choosing a business structure. The business structure you choose plays a role in how much you pay in taxes, what you’re liable for, how much paperwork you need to fill out, and how you can raise money.

Before choosing a business structure, you should talk with a lawyer about your different options. You can save a lot of money and headaches by simply choosing the right structure.

Business Insurance

Another thing you need to consider when starting a small business is your business insurance. In some cases, small business laws require you to carry insurance, but it’s a good idea to have it either way.

When you’re shopping for insurance for your business, you can find policies designed to cover just about anything. The trick is determining which types of coverage you need based on how your business operates. For example, you need commercial fleet insurance if you have a fleet of work vehicles. For some businesses, it’s better to have insurance that protects something else, such as equipment failure or property damage.

State Laws

Finally, you need to consider how Illinois state laws factor into starting a small business. You can talk to a lawyer about the specific laws that may have an effect on your business. However, that’s only part of your responsibility as a small business owner when it comes to state laws.

In addition to adhering to the latest laws, you can also find a list of proposed rules online. There’s a period during which you can support or oppose these rules, and you can even submit your comments and find out more about proposed state business laws by contacting the Illinois Department of Commerce.

If you don’t have a lot of knowledge about small business laws, the best thing you can do is work with someone who does to make sure you’re doing things right. The law offices of Michael J. Diaz can help you start your business the right way. Call us today to find out more and get started.