When you think about a lawyer, you might think about a judge, jury, and if you’re unlucky, an executioner. Some entrepreneurs understand they can help with business formation, but not many. After all, the ratio of SMEs that employ attorneys compared to the number of firms in the legal services market, according to Statista, is low.
Money is partly to blame. Not every new business can afford a high expense when they have other things to focus on. However, it’s also down to ignorance. There’s a good chance you don’t know all the things a lawyer can offer, which is why you don’t have one on your payroll.
Continue reading to find out more about what surprise services you can expect.
Securing Finance
The final part is down to you. But, finding willing investors is a challenging job because wealthy people and organizations don’t part with their money easily. You need a broker, and an attorney is an entity either side can trust. Both parties have done business with them, so they are reliable, and law firms tend to deal with clients who have resources. Therefore, they can point you in the right direction, even make a few phone calls, when you need a cash injection.
Preparing for Bankruptcy
Of course you turn to a lawyer when filing for bankruptcy. The surprising part is not who you employ, but the idea that your business won’t be successful. Most entrepreneurs are certain their idea will take off, which is why a safety net is usually a notion. Thankfully, firms like Canyon Legal Group are experienced enough to put out fires and limit the damage. Yet, you must understand the risks initially. Otherwise, you could leave it too late before seeking help, and the damage might be done by then.
Increasing Brand Identity
Building a brand is an art. A significant section of mastering it is to understand that people’s perception of the company is vital. That’s why small businesses are beginning to invest in logos and small features that enhance awareness. As Forbes highlights, it’s as simple as doing it through YouTube. Still, the fine print only gets you so far. To make a big leap, you need to involve the big boys. Lawyers instantly make clients and customers assume you are to be taken seriously. For one thing, you can’t afford them without money, and money means success. Secondly, you have access to 24-hour, professional advice. It doesn’t matter if these things are true as long as people believe they are.
Offering Advice
If there is one piece of invaluable advice business owners should learn, it’s that you should take any available help. Where the idea comes from doesn’t matter as long as it’s suitable and well-executed. Therefore, having a lawyer on your team, an experienced and expert professional who understands business, will give you a platform on which to bounce off ideas. Some will stick, some won’t, but the key is to use the process to create ideas and solve challenges.
Did you know a lawyer can do the above? Will you invest in legal aid now?
