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Owners pour endless amounts of time and resources into growing their businesses.  But, just like children, growing companies develop different needs as they expand.  Sometimes it’s hard to see what a growing company may need to foster continued success.  Conducting a business audit can help identify areas to target for improvement in a company’s operation, including corporate structure, potential liability pitfalls and tax considerations.

Read the article by Stacey DeKalb and Jason Engkjer which appeared in the May/June 2018 Upsize Minnesota Magazine.  The article gives five areas to consider auditing:

  1. Evaluate the current structure of your business.
  2. Analyze the company’s standard business contracts.
  3. Review your employment practices.
  4. Catalog and protect intellectual property (IP).
  5. Regularly review your insurance protection.

 

For more information, contact Stacey DeKalb at stacey@lommen.com or 612.336.9310 or Jason Engkjer at jengkjer@lommen.com or 612.336.9303.