Working with Professionals

No matter how small your business is, you probably want to establish a working relationship with professionals who can help you navigate the world of regulation and finance. Networking via trade association memberships, attendance at seminars or through trade industry directories or other publications can help you identify and become acquainted with various professionals and the services they offer.

Legal help

Since your business is a legal entity, you should have a lawyer make sure that all the paperwork is completed and has been filed with all of the required agencies.

Click here for a summary of the different ways you can set up your business.

Your lawyer can also help you protect the business name, a special logo or trademark or other proprietary material and help you evaluate any potential liabilities or legal responsibilities you may have as the result of conducting your business. If your business involves intellectual property that should be patented or copyrighted, your lawyer can handle those filings as well or show you how to complete the paperwork.

Tax help

An accountant or tax professional can help make sure you file all necessary tax returns and reports. He or she can also help you determine if there are any special tax treatments for your business that could save you money or if there are additional reporting requirements to avoid penalties. Your accountant can also be sure you make the required workers’s compensation insurance payments to your state.

Insurance help

An insurance professional can help you choose an insurance policy to cover any potential liability you might encounter while running your business. While not all small business owners need this type of insurance, many do. You’ll want to be sure to check where you fit. You may also need property and casualty insurance for your office and equipment, and perhaps disability insurance for yourself.

Consumer Resources

This content is provided as educational material only and is not intended to solicit you for any product or service. These materials are not a recommendation by HSBC for any product, service or financial strategy. The suggestions and recommendations contained within are general in nature, and may or may not apply to your particular circumstances. Securities, annuity and insurance products are not FDIC insured or insured by any federal government agency of the United States; subject to investment risk, including possible loss of principal invested. All decisions regarding the tax implications of your investment(s) should be made in connection with your independent tax advisor. Should you need further assistance, HSBC strongly recommends contacting an independent attorney, tax professional or financial consultant.