Understanding when and how to restructure your business

Business owners are frequently faced with important decisions. From the very beginning, for example, owners will need to decide what type of business structure they will form under. This decision can have an impact on the day-to-day operations and growth of a young business.

Even though one particular business structure might prove to be effective in the years immediately following a company’s formation, it may not continue to be the best option down the road. At this point, a business owner may need to restructure.

The U.S. Small Business Administration provides insight into the types of business structures that a person could choose from. As an example, a sole proprietorship might be an effective way for a person to manage a small business at its inception. When this business grows, it may be necessary to look at a different arrangement, such as a limited liability company.

Of course, it may not be exactly clear what type of business structure is best. Our firm has the experience and knowledge necessary to look at a business’s needs and advise the best course of action when reorganization is necessary. This way, business owners can feel confident that they understand the new business structure and that it will meet their needs.

At the same time, the process of restructuring can be a challenge. Our firm’s broad base of business and legal knowledge can serve owners well as they lead the transformation. After all, this is a step that business owners and their staff will want to go smoothly. With trusted guidance along the way, owners can have greater peace of mind about taking their businesses to the next level.

To learn more, please visit our firm’s business reorganization page.