Five Resolutions for Your Business in 2025

The new year brings significant opportunities for businesses. For many, it’s time to reset and look forward, examining the company goals and seeing what steps can be taken to meet and exceed their annual goals in 2025. For others, it is a time for reflection, a look back at the previous year to see what went right and what went wrong and how to change course, if needed.

From a legal standpoint, there are certain things the new year brings a great opportunity to review. Hopefully, everything on this list is already checked off, but if you’re looking for a New Year’s Resolution for your business, here are five ideas that can be completed fairly quickly.

1. Review your business structure and make sure you have the right documents for that structure.
2. Check to make sure your contracts are truly being fulfilled.
3. Resolve any outstanding disputes.
4. Complete performance reviews for employees and contractors.
5. Develop or finish your exit plan.

The attorneys at The Orlando Law Group can help you meet these resolutions quickly. Just like the resolution so many people make to join a gym, the first step is reaching out. We are here to help.

Resolution No. 1: Review your business structure and make sure you have the right documents for that structure

Companies often ebb and flow. They evolve. They change how they are operated and revise their missions and goals.

Too often, however, the company’s original business structure stays the same.

There are so many different types of business structures, from a Limited Liability Company to a B Corporation and so much more. Maybe it is time to create an ESOP or move from a partnership to a sole owner.

The important thing is to talk with your lawyer and accountant to ensure your company is structured in a manner that provides you the most financial benefits, along with the most legal protections.

Every company is different, making it difficult to say all the reasons why companies are structured in specific ways. That’s why it is a good time to dig in and review your company’s goals.

But here are a few questions you can ask:

1. If you were to get sued, how damaging would it be to the owners of the business personally?
2. How many employees will you add over the next few years?
3. Are you looking for investment this year or did you start bringing on investors in the past year?
4. What are the goals of each of the partners over the next few years?
5. Are there expansion plans for your business to add new locations?
6. What are your exit plans? (See resolution No. 5.)
7. How have tax laws changed since you started the company?
8. Are you thinking about starting a new line of business with a new product or service?
9. How extensive is your use of 1099 contracted workers?
10. Are you thinking about offering your goods and services in a different state?

The answers to these questions all impact on how your business is legally structured.

During this review, you might find the current structure is the right structure for your business. However, if you’ve been in business for a while, it would be time to review all of the documents for your business.

After all, laws and regulations change. There may be new requirements you are unaware of. There may be new paperwork required from state, local and federal governments. All of this can impact your business and, if you have outdated documents, you could be subject to fines and penalties.

It is a fairly simple step to review your structure and your company’s documents, but not doing so can have significant financial repercussions in the future.

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