Blog

How Does a Drug Conviction Affect Your Business?

Does a Drug Conviction Affect Your Business

If you are a business owner, you may be wondering how a drug conviction can affect your business. According to a drug defense attorney in New Jersey, the answer depends on the type of business you own and the severity of the controlled dangerous substance (“CDS”) offense.

A drug conviction can have a severe impact on your business. You can face significant fines and even jail time. In addition, your business could be permanently shut down if it has involvement with trafficking drugs.

A conviction for a drug offense can also impact a professional license. A suspension or revocation of your privilege to practice in a particular profession obviously has the ability to negatively impact your business or employment. There is also the potential for a record to eliminate your ability to secure a loan for business or personal use.

Below is more details of ten ways that a drug or CDS record can impact your business:

1) Lose Customers and Suppliers

You may lose customers and suppliers if you have a drug offense conviction. This is because many people do not want to do business with someone who has drug offenses. Additionally, if your business is in the food or drug industry, you may be required to obtain a special government license to continue operating.

2) Lose Government Contracts

If your business has government contracts, you may lose them if you get a conviction. The government will often not do business with someone who is a felon.

3) Lose Your Business License

If you have a drug offense conviction, you may lose your business license. This is because many states have laws that require business licensees to have a clean criminal record in order to maintain a license. This is particularly true for professionals who are in the medical field such as nurses, mental health professionals (e.g. therapists), etc.

4) Increased Insurance Rates

If you are convicted of a drug offense, your business insurance rates may increase. This is because insurance companies view businesses with criminal convictions as high risk.

5) Difficulty Obtaining Financing

If you have a drug crime conviction, you can have trouble getting finance for your firm. Banks and other financial institutions consider corporations with drug charges to be high risk.

6) Difficulty Hiring Employees

If you have a drug offense conviction, you may have difficulty hiring employees. This is because many people do not want to work for a business that has a criminal conviction. Additionally, if your business is in the food or drug industry, you may need to secure a special government license to continue your operation.

7) Personal Liability

You may be personally liable for the violation if you have a drug offense charge. This means that you could undergo jail time or go to court for the crime. Additionally, if your business is in the food or drug industry, you may need to seek a special license to operate.

8) Reputational Damage

If you undergo a conviction for a drug crime, your business will likely suffer reputational damage. This is because many consumers will not do business with a corporation that is involved in drug violations. Furthermore, if your company is in the food or pharmaceutical industry, you may need special government business authorization to continue functioning.

9) Difficulty Obtaining Insurance

If you are guilty of a drug offense, you may have difficulty obtaining insurance for your business. This is because insurance companies view businesses with a criminal history as high risk.

10) Increased Costs

If you are guilty of a drug violation, your business may incur increasing costs. This is because you may be required to obtain a special license from the government to continue operating. Furthermore, you may face higher insurance costs and problems securing finance for your company.

The important thing to appreciate is that you put yourself in a much better position by hiring a criminal defense lawyer. Ensure they have experience in defending drug possession and distribution charges. They can help you avoid a conviction that clearly has the ability to cause a devastating impact on your business, professional license, and income potential. You should therefore call an attorney to learn your rights the moment you are under arrest for a drug violation.

Blog Categories

Recent Posts

mobile-text-alerts
flippa
nordvpn

Subscribe to my Blog
on Business Trends...




Enter Search Above
magnifier linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram