To grow your business and perhaps even take it public, you must create the correct conditions. Taking the right legal steps to position your company for growth is essential.
Sasha Begum and our team at Begum Peláez-Prada PLLC have decades of experience helping businesses to expand. Our attorneys are skilled at legal planning for expansion in San Antonio companies, and we could help your business too.
You have several options when deciding how to structure your business. Many startups choose a limited liability company (LLC) structure, which provides some tax advantages and limits shareholder liability.
However, for companies seeking outside investment or anticipating taking their business public, a corporation structure may be more suitable. Although the initial compliance requirements are more complex than for LLCs, only corporations can make public stock offerings. Texas Senate Bill § 29 also offers significant new protections to corporations.
A San Antonio attorney could discuss your business plans with you and help you decide which structure best meets your expansion needs.
San Antonio law provides a business-friendly climate; however, it also sets out numerous legal requirements and regulatory restrictions that could impact your operations. Some of these are specific to the activities your business engages in, but others apply to all companies doing business in the state.
State law imposes a franchise tax, similar to a corporate income tax, on entities that sell products. This requires you to charge and remit a sales tax. Employment taxes will also be a concern if your business has employees.
Ensuring you have all the requisite business licenses and permits is essential. Registering with the Texas Secretary of State is necessary for most businesses, and there are also other permits specific to the nature of your business. For example, you may need a health department inspection if your business handles food or animals, and you must comply with zoning laws if your business has a physical location.
Our local attorneys could help you ensure the required paperwork is filed correctly and timely.
Various state and federal laws may apply to your business, and it is critical to understand their possible effects. For example, environmental laws affect manufacturing and property development businesses, and selling online or collecting consumer data requires compliance with data privacy laws.
If you plan to expand your San Antonio business, legal compliance is essential. A business with regulatory noncompliance liabilities is generally unattractive to investors.
Risk management is a crucial aspect of business planning. At Begum Peláez-Prada PLLC we could help you identify and address potential legal and risk management issues for your San Antonio company, especially if you are thinking about future growth.
Considering the potential impacts of storm damage, including destruction of inventory, is essential for businesses with a physical location, while companies with employees must decide whether to participate in the Workers’ Compensation program or self-insure for employee injuries. We could help you address these issues as well as vendor and supplier contracts, trademarks and other brand protection, and succession planning.
Legal planning for expansion in San Antonio companies requires the knowledge and support of an experienced attorney. Sasha Begum and our team could provide the guidance you need to ensure your business is ready for growth.
Begum Peláez-Prada PLLC operates in San Antonio and the surrounding areas of Dreamhill Estates, Los Jardines, Olmos Park, Prospect Hill, Terrell Hills, and Tobin Hill, and we could provide for all your legal needs. Reach out to us today and schedule a meeting to discuss your plans for business growth.
