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As a Wisconsin small business owner, you and your company are responsible for complying with federal, state and local laws. If you're new to owning a small business, this can be especially intimidating as a small mistake could cost your business its ability to stay afloat in the market.
For business owners in Green Bay, Milwaukee or Madison, it's important to understand state and federal laws and know how to proceed when a legal issue develops. LawInfo has the Wisconsin small business law information you need from business plans to workers' compensation.
Insurance is both a necessity and, for certain types of liabilities, a legal requirement for small businesses in Wisconsin. Small businesses are especially vulnerable to liability. Damages to business property, injuries to workers, mistakes in contracts and general liability to customer or third-party claims can financially impact a small business to the point of bankruptcy.
Wisconsin law requires every business to purchase workers' compensation insurance—for protection against workplace injury claims—and auto insurance, if your business uses a vehicle. Other types of insurance policies you may want for your business include:
A general liability insurance policy or a business owner's policy may benefit your business if you need to economically cover a range of different liabilities.
Small businesses in the U.S. are expected to comply with a dizzying number of laws and regulations. Added to these strains is an ever-evolving field of civil rights law which is simultaneously defining new worker and customer protections while cracking down on noncompliant businesses.
U.S. employees have more workplace rights than other employees in many countries. Therefore, as a business owner, you should be wary of the common employment law mistakes some Wisconsin employers make, including:
Taking your small business from idea to market isn't a formulaic process. How one small business started isn't necessarily the same way yours will start. However, there are a few important steps you'll want to take first when starting a new small business, such as:
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified business lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local business attorney to discuss your specific legal situation.