Protect Your Small Business with Business Contracts

There was a time when business deals were solidified with a handshake. Not anymore!

Starting your own business can be very exciting and very overwhelming all at once. When you are offering a service, you have the added stress of figuring out how to create a business contract or an estimate sheet you can offer your clients.

For many small business owners, it may seem tempting to skip this step. However, to protect your business it is essential that you always have the terms of a transaction in writing.

Naturally, you will have many clients come and go without any need to ever reference their contract or estimate. However, from time to time you will have a client in which a business contract comes into play.

Unfortunately, regardless of how superior your services are you can never please everyone. In the event that a client is unhappy with something that occurs during a transaction an estimate sheet or business contract can protect you from loss.

Additionally, it can save a customer by clearing up any confusion they may have surrounding the transaction.

Hire a Professional

There are many ways that you can develop a basic business contract or estimate sheet to use for your small business. Generally, you only need one basic form that you will alter for each individual client.

In many cases, the easiest way to get a solid contract for your small business is through an attorney. An attorney can help you draft a contract and make sure it covers all the basics.

If you are not confident writing a business contract on your own, an attorney is your best option.

Do it Yourself

There are also several different software programs available to small businesses that can help you draft legal documents for your business. These programs are very comprehensive and often have templates that you can use as a starting point.

However, if you opt to use a software program, it is wise to do some research on what should be included in your contract prior to creating your final draft.

This will help ensure you cover all your bases and protect yourself from legal pitfalls.

Go Online

Many people also turn to the Internet for their contract and document needs. There are many websites that now offer creation of legal documents for a nominal fee. In fact, there are a number of websites that offer free basic legal documents.

These websites can be an excellent starting point for contract creation if you are on a limited budget. However, as with the software programs, it is important that you do your research so that you are able to draft a business contract that fully protects your business.

Once you have established a contract for use with your small business there are a few important things to keep in mind. Always retain the original copy of your contracts once they are signed by all parties of the agreement.

Additionally, make sure your clients have read and understand the business contract before signing so they are not surprised by any of the fine print. Both of these things will ensure that you are protected – and that your client is happy.

Like this? Share it with your network:

I need help with:

Got a Question?

Get personalized expert answers to your business questions – free.

Affiliate Disclosure: This post may contain affiliate links, meaning we get a commission if you decide to purchase something using one of our links at no extra cost to you.