Small Biz 101 Podcast

Find the Right Biz for You Series (Part 6) When determining the ideal small business for you, make sure you give consideration to potential pitfalls and address them before they become significant issues. Caution #1 – Current Employer Considerations Many people start their businesses as a side business, building up their new venture during off hours, after work and weekends, while continuing to work a full time job. A side business is a great way to test the waters of your business idea; however, there are some preliminary cautions to consider. Employment Agreement If your idea for a business involves providing a similar service or product to what your employer currently provides, consider whether you have an employment agreement with your employer. If so, check to see if it contains a non-compete clause. If it does, read it carefully to see: what the clause prohibits you from doing; for what period of time; and within what geographic range. Then check with an attorney who works in the employment law field