LLC: Lessons Learned in Colorado

Often, what causes one industry to suffer has a positive effect on another industry. It could be a take on the “when a door closes, a window opens” philosophy of change. Take this weather pattern which has settled over Colorado this winter. Drought in the mountains and 60 degree days in Denver, and depending on whether you like to hike, bike or snow board, you’ll either be laughing or crying.  The ski resorts are hurting, the bike shops are thriving.Slip Sliding Away
Sometimes forces such as economic sluggishness, or the weather, are simply out of our control.  But the Colorado LLC, S Corp or C Corp can still be prepared for many situations . The snow sports industry is a great example of weathering the storm, so to speak.  The Colorado Mountains experienced record snowfall for the 2010-11 snow seasons, and much less snowfall thus far in 2011-2012. Not to mention the larger economic problems that have plagued the past few seasons. But the manufacturers, retailers and service providers in that industry have become accustomed to properly managing inventories and margins to deal with “off” years.

Surviving the Ups and Downs of Colorado Small Business
This is a good lesson, even for this Colorado small business attorney. Even if you think your LLC or S Corp is in a solid, non-fluctuating industry, any business can be affected by external forces, such as the wind storm that may knock the neighbor’s tree through the roof of your office. It pays in the long run to invest in the necessities such as business insurance, basic tax planning and drum tight business contracts.

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