Small businesses in the United States employ more people than any other type of employer, but most small businesses also wind up in legal matters that could put them out of business. To help ensure your small business remains viable and is protected against potential lawsuits and other legal complications, it is very important to seek the advice of experienced business and asset protection attorneys who can help to ensure your business has the protection it needs.
Most Small Businesses Face Legal Troubles
During the past two years, about 60 percent of all small businesses surveyed were embroiled in at least one legal problem, including potential lawsuits, according to a recent study entitled The Small Business Survey. That’s some 13 million small businesses across the United States, and yours easily could be among them. Facing a lawsuit or other legal problem can be particularly problematic for small businesses, which generally lack the resources for fighting ongoing and costly legal battles while also being forced in most cases to fight those battles on their own. Many larger businesses have the financial resources, legal means and often times outside allies to assist them with lawsuits and other legal battles. But small business owners typically lack such resources, which is why The Law Office of Michael Cahill is one of the best resources you have for your small business.
Many Common Legal Complications for Small Businesses
The most common legal problem for small businesses is debt collection with about 22 percent of the 13 million small businesses surveyed saying they were having trouble getting debtors to pay their bills. An equal percentage said they need legal assistance in going over their business contracts and ensuring they are viable and accomplish their intended purpose. The next most common problem cited by about 1.3 million businesses in the survey is the problem of dealing with disputes with suppliers and contractors.
What kind of legal issues has your small business encountered in recent years?