Small businesses are the backbone of the U.S. economy. One impression readers might have from that statement is that it must be very easy to get a business up and running. But experienced Florida business law attorneys will surely agree that is not the case. There are layers of law – federal, state, county and municipal – and complications can surface at any one of them. Care in legal compliance is necessary from the outset.
Many contractors in the construction industry complain about the difficulty of keeping their accounts receivable and payable in sync with one another. Accounts receivable cycles invariably lag behind accounts payable cycles. However, that is no excuse for subcontractors, suppliers and the like to not receive timely payment for goods and services rendered.