A Washington DC Law Firm for Your Small Business – The Law Office of Michael Trevelline

At the law firm of Michael Trevelline, we believe in helping small businesses in Washington DC succeed. No matter what kind of enterprise you plan to start or have underway, our small business law firm attorneys have some suggestions to help you survive and thrive long-term:

• Have an adequate financial base to operate your business. Understand that it can take months and sometimes years to pay back loans and make a profit. Save up as much money as you can to avoid starting your small business exclusively on money from loans, banks, and investors. Remember, you’ll have living expenses to cover too.
• You may have big plans for your new business in Washington, DC but start small. Don’t rent an office, if you can work from home. Postpone hiring employees until you can keep them busy full time; in the meantime, enlist contractors and part-time help.
• Select the right small business entity. Work with a lawyer experienced in small business laws to determine the structure that will protect your personal assets and minimize liability. Determine how your Washington DC-based small business will make a profit. This means that you need to understand the extent of your production costs, inventory costs, operating expenses and employee compensation—even if you’re the only employee. Once you have a clear handle on your costs (including any taxes you’ll have to pay), you can determine what it takes to break even and make a profit.
• Start with a small business plan that includes a break-even analysis, a profit-and-loss forecast and a cash flow projection. A business plan also helps you identify all of your start-up costs (what you’ll need to save before you open for business) and develop a marketing strategy (how you’ll need to promote your business to potential customers). The numbers have to work on paper before they will work in practice. 
• You want your small business to be competitive, so it’s important to carefully assess the Washington, DC market in which you’ll operate. Know your competitors better than they know you, develop a way to deliver your product or service that sets you apart and offers your customers something extra, and learn to respond quickly and responsibly in the face of adversity. To ensure long-term success, protect your business strategies and any “trade secrets” that make your small business special. A small business attorney can work with you to set up your documentation and contracts in ways that enforce confidentiality (through nondisclosure and/or non-compete agreements) and limit access to information.
• Make sure you have the appropriate state and federal licenses and permits in place to start your small business. Rules differ from place to place, so it’s important find out what you need for establishing a business in Washington DC.
• If you have business partners, draw up the appropriate documents with the assistance of a small business attorney. Starting with the right contracts in place will protect you and your partners if you decide to dissolve the partnership or sell the business to someone else.

The small business attorneys in the law office of Michael Trevelline want to ensure that your small business enjoys a successful start. We can work with you in developing your idea, establishing your business structure and defining your partnership and employee relationships.

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Contact us at 866.853.5419 for a small business consultation.