business lawyer Tag

Benefits of Contract Drafting and Review for Small Businesses

If you are a new or small business owner, you may not be thinking much about contracts. Many new business owners believe that when they are just starting out, it is better to build informal relationships with suppliers and distributors. However, in reality, these informal agreements can cause a lot of ambiguity on both sides, which can result in major miscommunications and fallouts that threaten everything you have built. It is important to understand that contracts are like bricks when you are building your business. Having contracts properly drafted and reviewed helps you build a strong foundation with contractors, business...

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Black-Owned Businesses are Thriving in South Florida

You may be shocked to learn that only 2.2% of businesses in the United States have Black owners. While racial disparities exist nationwide, South Florida has been proving itself ripe for boosting Black-owned businesses. In fact, two of the nation’s top five best cities for Black business owners are located in South Florida — Pembroke Pines and Miramar. Both of these cities have a 3.11% Black-ownership rate, above the national average, and higher than the vast majority of the 129 cities assessed for the study.  Obstacles for Black-Owned Businesses  Studies have consistently shown that it is harder for Black business owners to...

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Florida S-Corp vs. LLC: Making the Right Choice for Your Business

An important step in any successful business is making it an official, legally recognized entity. There are a number of types of Florida businesses, including S-Corporations, which are technically not legal business entities, but rather, an elected tax status that essentially lets the IRS know to tax your business as a partnership. The best kind of business for you depends on a number of factors, such as the organization and nature of your business, the amount of liability you are comfortable with, and possible tax benefits and drawbacks.  Two of the most popular kinds of Florida businesses are S-Corporations (S-Corps) and...

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Saving the Florida Small Business During COVID-19

Since March 2020, COVID-19 has kept much of America on lock-down. With ups and downs along the way, small family-owned businesses have struggled to stay open, while complying with rapidly evolving rules and local mandates. Florida has been a hotspot at times, with higher than normal infection rates, leading to a lot of concerns about extended harm to businesses and the likelihood of the shutdown lasting indefinitely. At The Sejour-Gustave Law Firm PLLC, our attorneys remain devoted to protecting and preserving small businesses in our region, even in these difficult times. Planning for Business Succession Succession planning is always a concern for...

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