Small Business Contract Mistakes to Avoid

✍️By Debbie Balfour | WBN News | June 6, 2025 | Click HERE for your FREE Subscription to WBN News and/or to be a Contributor.

One overlooked clause in a contract can cost you everything you’ve built. Whether you're signing with a vendor, hiring a freelancer, or partnering with another business, contracts are non-negotiable—and yet, so many small business owners treat them like minor details.

In Canada, contracts are legally binding whether you’ve read them fully or not. That means a handshake and a signature on a templated form could lock you into unfair terms, hidden fees, or responsibilities you never intended to accept.

Common pitfalls include:

Unclear payment terms
Vague deliverables and deadlines
One-sided termination clauses
Missing liability protections
Jurisdiction issues that complicate legal action

A contract should clearly outline who does what, when, how much it costs, and what happens if someone doesn’t deliver. Without legal review, you risk misinterpretation—or worse, legal exposure.

So, how do small business owners get the protection they need without burning cash? Subscription-based legal services are emerging as a powerful solution. For a low monthly rate, you get access to experienced contract lawyers who can review, negotiate, or even draft documents tailored to your business needs—no huge hourly invoices attached.

Don’t sign just to get it over with. Contracts aren’t just paperwork—they’re your frontline defense. Treat them with the attention they deserve.

What you don’t understand today could bankrupt you tomorrow.

Debbie Balfour | Real Estate Investing Success Coach + Podcast Host
📍 Website: www.DebbieBalfour.com
📧 Email: Debbie@DebbieBalfour.com
🔗 LinkedIn: Debbie Balfour
▶️ YouTube Channel: youtube.com/@DebbieBalfour

TAGS: #Small Business Contracts #Entrepreneur Legal Tips #Business Protection #Contract Review Help #Canadian Business Law #Subscription Legal Services #WBN News Langley #WBN News Abbotsford #WBN News Okanagan #Debbie Balfour