Administrative work in any organization has the propensity to be mundane and if not managed properly, can be a massive waste of critical resources including time and money. Businesses in New York who optimize administrative processes to provide support and meaning to their organization may find that their efforts are more productive and valuable in the long run.
Your ultimate goal in forming a small business in Troy may be to grow it into an enterprise that employs many people and eventually is open to ownership acquisition through public markets. Yet first things first; you and your business partners need to follow the appropriate process when filing articles of incorporation with the state. This is something that you can choose to do on your own, yet given the importance of this action in the legal establishment of your corporation (and the complexities involved in the process), it may be to your advantage to seek assistance from the appropriate legal professionals.
As a small business owner in Troy, you rely heavily on the security that comes from having service contracts with your clients. A contract signifies stability in that as long as your business is able to meet its terms, you will have work to do. Thus, having a partner try to terminate a contract can be potentially devastating. If you are like most, then you hold the assumption that a party to a contract can only end it prematurely if it has a valid cause to do so. Unfortunately, that may not always be the case.
As someone who owns and operates a small business in the state of New York, at times you may need to hire an independent contractor to handle tasks that an employee is not qualified for. In doing so, you are aware that state and federal law carefully distinguishes between employees and independent contractors and can penalize you for treating an independent contractor as an employee. So you should be careful while designating a worker as an independent employee.
As a New York small business owner and employer, one of the most important things you must understand is the difference between your actual employees that you hire and the independent contractors you engage to do various pieces of work for you.