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Lake Charles Business Law Blog

Social media mistakes can hurt a business

Social media is a big part of many people’s lives these days. So, social media can provide a unique channel for businesses to reach out to customers and build up their brand. However, just like any other tool, it can be very important for a company to be careful about how it uses social media. There are many mistakes that businesses can make when it comes to this tool.

A recent Forbes article went over some examples of such errors. The social media mistakes it went over involved a wide range of things, such as: the content a business puts up, how it puts such content up, hashtags, social media strategy and the relationship between a business’s social media presence and its website.

Steering clear of business-killing mistakes

Among the big fears a business owner here in Louisiana may have is fear that their company will fail. One of the things owners can do to address this fear is work to avoid mistakes that could up the chances of their company going under. Some of the business mistakes that can have this result are fairly obvious ones. However, there are others that are much lesser-known.

A recent article on a news website went over some of the more under-the-radar mistakes that could put a business’ continuing operation in danger. Such errors include business owners:

  • Having their business be too dependent on them.
  • Not paying attention to improving their own sales skills.
  • Never saying no to customers, even to things that don’t make sense for their business.
  • Not properly compensating themselves.

When an ecommerce transaction goes south for a business

As more and more people turn to the internet for their shopping, ecommerce has come to play a big role for many retail businesses here in the United States. There are quite a few retailers out there that get a good deal of their business in the form of ecommerce.

Now, sometimes, an ecommerce transaction doesn’t go quite the way a business had hoped. For example, sometimes, a customer ends up abandoning an online purchase before they complete it, thus leaving the business with one less sale.

Business regulatory issues can have big financial impacts

There are a range of regulations that can apply to a business. These regulations can have many impacts on a company. This includes financial impacts.

For one, there can be a variety of expenses related to staying in compliance with such rules. According to the results of a recent National Small Business Association survey of small business owners, the average yearly cost (including direct and indirect costs) of maintaining regulatory compliance is around $12,000 for small businesses. The results also indicate that, for small companies that are just getting off the ground, their compliance costs over their first year of being in business can come in at over $80,000.

The challenges of the post-holiday period for small retailers

The holidays now being over means many things. For one, it means the winter holiday shopping season is now in the rear view mirror. Difficulties can come up in this post-holiday period for small businesses. This can particularly be the case for small businesses in the retail sector.

One challenge that can come up for such companies this time of year regards sales volume. It is a common trend among small retail businesses for sales to slump a bit in the first couple of months of a new year. Such a slump could be quite a shock for a retail business and its coffers after the busyness of the holiday shopping season.

When a business is a victim of ransomware

Ransomware attacks are a type of cyber attack involving the use of malware that encodes data to keep the possessor of the data from being able to access it. This is generally followed by a ransom demand in which the victim is told that they will have to make certain payments in order to get their data back.

A recent IBM study points to spam emails containing ransomware being quite common this year. Reportedly, of all spam emails this year, around 40 percent had ransomware in them. Also, the number of ransomware-containing spam emails was remarkably higher in 2016 than it was in 2015.

Major weather events can be tough on small and young companies

Unexpected events can pose problems for any business. They can pose special challenges though for small companies or companies that are just getting off the ground.

Take extreme weather for example. Such disasters can be particularly tough on small and newer businesses. For example, federal data regarding Hurricane Katrina points to shutting down for good being particularly common among small and young companies touched by the storm. Also, a study regarding Hurricane Sandy pointed to small and young businesses having been more likely to face post-storm credit access issues, like high interest rates or trouble getting credit.

Why so many mergers in the business world?

What is exactly is a merger? A merger is when two completely separate corporations dissolve to become one new corporation. The previous companies' assets and liabilities are merged into the new entity. An acquisition, on the other hand, is when one business takes over, or buys out, another business.

Mergers and acquisitions have been on a steady increase across the world in the last couple of decades. What would cause such an increase in these mergers? There are many reasons.

Report: U.S. seeing lots of small businesses getting sold

It appears that, in recent times, sales of small businesses have been increasingly common here in the United States.

Recently, an online marketplace for the sale of small businesses (BizBuySell.com) released data on the number of small business sales that occurred within its business broker network in this year’s third quarter. Purportedly, the total of closed transactions for the quarter was 2,090. This is the highest total that has been seen in awhile. You have to go all the way back to the second quarter of 2008 to find a greater total.

Employment law matters and company culture

From employment contracts, to workplace policies, to disputes with employees, all kinds of legal matters related to its workforce can come up for a small business. When such matters arise, small businesses here in Louisiana may want guidance from a skilled attorney on what approach to take in addressing them.

Why does how employment-related legal issues are handled by a business matter? Well, such issues can have implications for a lot of fundamental things within a business. Among the things that could be affected is the business’ overall company culture.

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Roddy, Watson & Everett
400 East College Street
Lake Charles, LA 70605
Phone: 337-419-3430
Fax: 337-474-1533
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