As you strive to grow your small business, there is one thing to keep in mind: ensuring its compliance. Each state has its own set of business laws to abide by. If you fail to do what the state requires, you can lose your protections and accrue fees and penalties. Here are five basic things you need to do to keep your business safe.
Small Business Compliance Tips
Confirm Your Business Is in Good Standing
You need to make sure your business is in good standing is important; check to ensure your business has a Certificate of Good Standing. This is a document issued by the state that says you are cleared to run your business. Essentially, it’s a document that shares the compliance status of a business.