Do I Need To Be There In Person – Can I Run My Business Virtually And Legally?
COVID-19 has changed the way we conduct business. Millions of employees now work from home or have just started returning to the workplace after coronavirus restrictions.
Some business owners realized through the pandemic that they can operate their business with employees who telecommute just as efficiently and productively as if the employees were in the office. Actually, some business owners realized that they could cut overhead costs and expenses by having employees working from home.
However, can the boss work from home? Can you effectively and legally operate your business virtually? There are a few things to consider.
You Must Maintain A Physical Address for Your Business
Even though you operate your business from a virtual office, your business must have a physical location. If COVID-19 made you think about shutting down your brick and mortar shop for a virtual office, you could do that.
However, you need to ensure that you change all legal records to reflect a physical address for your company. If your company is incorporated or has any license, you will probably need to use your home address instead of a post office box.
Before making any moves, check with our Florida business law attorney. Business regulations vary depending on your industry and company structure.
Workers’ Compensation Insurance Coverage
If you are required to maintain workers’ compensation coverage for your employees, switching to a virtual office could be an issue. If employees remain at the office and you switch to virtual management, you should not have an issue. However, if your employees will also work from home, even part-time, you need to discuss your legal liability under workers’ compensation laws.
The issues regarding teleworkers can be tricky when it comes to workers’ compensation coverage. You are still required to provide a safe work environment, but how are you supposed to do that when the employee is working from home? An attorney can help you review the issues related to teleworkers and workers’ compensation so that you do not run into a problem in the future.
Liability Insurance Coverage
Liability insurance coverage is another issue that you should address when telecommuting. As with workers’ compensation coverage, you may need to adjust your liability insurance coverage for yourself and any other employees who will work from home.
Cybersecurity should be a top priority if you intend to operate your business virtually. You are likely to use the internet to conduct payroll, banking, employee matters, and other business that involves sensitive and protected information. You may need to increase cybersecurity policies to ensure you are not exposing yourself to liability or additional risk.
Hiring a cybersecurity specialist may be the best way to ensure that you are taking all steps necessary to protect yourself and your company if you choose to manage your business from home.
Contact Matthew Fornaro, P.A. to Discuss Your Business Law Matters
Attorney Matthew Fornaro assists clients throughout Broward County with a wide range of business law matters. Contact our office by calling 954-324-3651 or contact us online to schedule a consultation.