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In Business & Profiting in Midcoast Maine

business law tips from Camden Maine business lawyer
“because your business is your estate”

Record Keeping for Your Maine Business: What’s Required?

Whether you are just starting up a new Maine company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your small business is a sole proprietorship, partnership, LLC, or corporation. Some types of records will help you to keep track of business details and plan for your business’s future, but others are required by law. Here are some of the records your business may be legally required to keep.

The Maine Business Plan

A business plan is an annual strategy exercise, detailing the business’s financial and funding information, its products or services, competitive research and analysis, marketing plans, sales plans and projections, and information about the key people and their roles. 

Closing Your Maine Business

Whether dissolving your business is a happy or sad occasion, it should be handled thoroughly.  Failing to wrap up all loose ends can lead to years of frustration and possible litigation with former employees, vendors, and partners.  We’d be happy to help you wrap things up and move on to your next venture. 

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