Well, first of all, it is one of the most important documents related to your business, but in many cases it is the least considered. In fact, an intimidating number of small business owners have downloaded and signed a generic form when starting their business with little knowledge of what’s on the document.
Your business operating agreement not only defines who owns your business, but it also defines exactly how it will be managed. Bad operating agreements can cost business owners thousands of dollars and are a contributing factor to the difficulty of qualifying for commercial loans or, more recently, PPP financing.
It is extremely important to know why you need to have a specific, detailed and most importantly updated operating agreement on hand at all times.
Because operating agreements are so important, L4SB teamed up with the New Mexico Small Business Development Center to offer a free and informative workshop for small business owners.
Subscribe today to: NM Small Business Development Center
Time: 12:00 PM – 1:00 PM (MST)
Registration deadline: 3/1/21 12:00 PM (MST)
Fees: No fees
author: Christy Donahue
Christie is the Director of Marketing (CMO) for Slingshot, the parent company of Law 4 Small Business (L4SB). She holds an MBA with a Psychology undergraduate. Christie was previously senior vice president of Albuquerque Bank and now leads the marketing efforts of six legal brands of the Slingshot Group of Companies.