A business plan projects 3-5 years ahead and outlines the route you intend to take to grow revenues. You can also use your business plan to address the legal aspects of starting up your business so when your funding comes in you can hit the ground running.
For more information on creating your business roadmap, read FSN’s Start Up 101: Constructing A Small Business Plan.
If you are too busy to keep your eye on the legal landscape, hire a qualified business attorney to help you so you can keep doing what you do best—running your business. Hiring an attorney with knowledge in your area of business can do more than just keep you updated on changes in the law.
They can also help you make informed business decisions.
Larger businesses, however, may be concerned about competitors obtaining information that can be used to their advantage.
The more confidential information your business plan contains, the more confidentiality and non-disclosure agreements you will have.
Don’t forget, most license and permits must be renewed annually.
Be sure to include those costs in your annual budget.
Whatever the nature of your business, you need to know what licenses and permits you need to conduct business legally.
This information is available online, but can often be confusing for new business owners.