Small Businesses And Eminent Domain
When you begin your small business, you pour all your hopes and dreams and your family’s future into that one little shop front. With loans and all your savings for starting capital, you acquired a location and furnished it with everything you would need to serve your customers. And then you worked, running the business during the day and doing accounting, planning, and other executive functions at night. You may not have seen your kids for weeks on end, but in the end you finally turned the corner. With a little success, you were able to hire some reliable help and you began to be able to enjoy the fruition of your dream. Until your property was threatened by eminent domain and it looked like you might lose it all.
If eminent domain is threatening your small business, don’t just give up all that you have worked so hard to achieve. Instead, call or email the Florida Property Rights Law Firm, PA today to learn how to protect your property and your small business.
Your Location Is Your Life
In planning your small business, you probably watched as many other businesses set up shop only to quickly fold. For some of them, the problem was bad business planning, but in others the problem was simply that the location was not right for their business. Some locations seem to be cursed, even when they seem to have everything a business needs in terms of visibility, accessibility, and walk-up traffic. Other locations might work for one business but not for another.
Having found one location that works, moving to another location always entails a certain amount of risk. Many successful businesses suffer serious setbacks or may even be forced to close after a move to what seemed like a better location.
If your small business works in its current location, don’t accept the risk of a forced move as a result of eminent domain— fight for the value of your current location.
Prohibitions on Eminent Domain
After reforms in 2006, Florida is one of the strongest states in terms of its protections for private property owners. According the Florida constitution and statutes, your small business cannot be condemned for:
- Public nuisance
- Transfer to another private owner
If you suspect that any of these rationales are being used to condemn your business, you may very well be able to stop the government action and protect your property.
Even after your business has become relatively successful, your operating margins are probably not all that large. You don’t have money to throw away, and getting the maximum compensation for your current property may mean the difference between setting up shop again or closing your doors forever.
Working with an eminent domain lawyer to fight for full compensation, rather than simply accepting the government’s initial offer, can significantly increase the compensation you receive. And by law our fees are not paid by you, but by the condemning authority.
If you would like to learn more about protecting your small business from the threat of eminent domain, please contact the Florida Property Rights Law Firm, PA today.