Most people who start new businesses are aware of how to promote it to get it off the ground. They generally know they need a good online presence with a website that is appealing and user-friendly too. Many of them fail because they do not handle these matters effectively or because they are underfinanced.
You may be surprised though just how many business owners are not aware of other things that could create a problem, some of which could stop them trading totally.
Not Operating Within The Law
There are federal and state laws to abide with and if you fail to comply with them you could find your small business closed down by the authorities. Depending on what trade you are in, you may need a permit. This could be building permits, zone permits, signage permits or maybe fire permits. The requirements can vary from state to state and you need to make sure you have the correct permits for your business in the state you are in.
There are laws relating to safety and health, which apply to your employees, customers and any other visitors to your premises. Inspectors can call on you without notice to check that you are operating within the law on these matters, and close you down instantly if you are not. Putting people at the risk of injury or worse is looked on as a very serious matter.
You also need to consider any rules and regulations relating to your own particular trade. The food industry, for example, has very high standards it must maintain or risk closure.
There are some rules and regulations that are not too clear. If your trade is in one of these ‘gray’ areas, it is advisable to take legal advice to make sure you do not fall foul of the law. To some extent, this is caused by the variation in the rules laid down by the various states, so make sure the advice you get relates to your location.
Sometimes, when money is tight for a business, they fail to maintain their machinery, or it could be they think that they are just too busy to stop it working while it is serviced. This could be a fatal mistake for your business if you fall into this trap.
If your trade is reliant on a piece of machinery and it breaks down, then you could have to stop trading until it is repaired, if that can be done. If machinery is regularly serviced anything that is not right will be found and can be put right. At the time of routine maintenance, this could be a minor problem. If no servicing is done though, this minor problem can build into something much larger. When it breaks it could damage other parts of the machine and mean it is beyond repair.
You may be lucky enough to find a semiconductor equipment manufacturer, for instance, that sells refurbished products as well. Without this hope though, your business could have to close if it does not have the machinery it needs to produce your goods.