Business counseling is usually free or paid legal advice and services provided to businesses during their entire lifespan. A new business will usually obtain business counseling to research how taxes might affect profits in the first year or how to navigate various laws when hiring new employees. A new business might also require documents to determine what will happen to the organization when an owner is incapacitated, dies, or retires. Starting a business with a partner? Counseling is even more important!
Growing businesses will also benefit from this type of legal help. The business might need to restructure into a corporate entity or LLC to remain profitable, or it might need to downsize. Owners might need to consider the purchase of another business or potential merger. These are all complex legal issues that require professional service. Counseling is mandatory.
Counselors also provide simple advice that ranges from implementing new market strategies, to how employee training should be conducted, to the role Human Resources plays within your business. Control is a key factor when determining the operation of a business, and new owners are always concerned about where power begins and ends. Business counselors will help owners stay honest no matter how long they’ve been there.
Another type of business counselor might help owners determine which employees need to be terminated during a recession. Not sure whether those employees are entitled to unemployment insurance? Counselors will help you determine which claims have merit and which do not. Was an employee injured on the job? Counselors will help you determine whether or not workers compensation is applicable under those circumstances.
Counselors can also provide financial insight or services aimed to minimize costs while maximizing overall efficiency. These advisors often provide the services of a CFO without actually working for the company. Not sure how to organize or disseminate business assets? You’ll need to find a business counsel attorney.