Many businesses in Texas are started by relatives or married couples. Other businesses may be started by an individual but with the hope that one day the business will be passed on to the founder's children. These situations all require some smart, proactive and strategic planning in order to ensure the business continues to be properly managed.
As a small business owner, you likely deal with contracts all the time. That is, you may regularly execute leases, purchase agreements or fulfillment contracts. When you enter into a contract in good faith, you expect all parties to honor its terms. If someone does not do so, your organization may sustain damages.
At the law firm of Palmer & Manuel, PLLC, in Texas, we help many business owners negotiate and draft their numerous contracts. Since contracts represent such a large part of any business, having a good written contract with each of your partners, suppliers, independent contractors and a myriad of others best serves your interests.
When you create a small business in Texas, you have choices as to what structure it will have. At Palmer & Manuel, we know that there are so many different ways of forming a new business that it may be difficult to decide which structure is best.
It is not uncommon for a small business in Texas to have customers owe it money. Depending on the type of business you run, you may often sell items to customers on credit. Doing so means that you should also have a collections process in place to go after customers who do not pay their debt. When you do any type of collections, you should understand debt collection laws in the state to ensure you are not breaking any.