Starting a new business can be both exciting and confusing. There are the highs of coming up with an idea combined with the perplexities of the paperwork involved. That’s why it’s always important to obtain expert legal advice when you are starting a new venture. Even if it is just having someone to look over documents and tell you they are all fine. Having a solicitor check over your plans and documents can potentially save you costs in the future. Think of it as an investment to ensure that your new company is built on stable foundations.
You’ve found the perfect property to run your business from, now to sign a lease. We’ve all been there, worried that we may miss out on something because we’ve waited too long or decided to sleep on it but signing a business lease can be a long-term contract, so you really should have another pair of eyes check it over.
Understanding the breakdown of costs, the impact of the length of the lease for a start-up business, and the costs for maintenance and servicing, is vital before signing a lease agreement. Our team of Commercial Property Solicitors can look over your lease agreement and advise you before you sign it, putting your mind at ease.
Just like your commercial lease, contracts with suppliers are between two businesses and need to be reviewed and negotiated to ensure that they benefit both parties. Failing to have adequate contracts in place (or even worse, no contracts) can be detrimental and, potentially, could have a harmful impact on your business. If you are going to be reliant on suppliers or are hoping to be a ‘sole supplier’ of a particular product or service, it’s important to have a professionally drawn up contract in place.
Staff and employment law
While some start-ups may just rely on the owner as the only staff member, others will require additional staff. Our three strong employment law team are always on hand to ensure that your new business has the correct policies, procedures, and contracts in place. We can also advise you on how to recruit staff and how to undertake performance management.
If your new business venture is going to be with someone else, you should definitely consider drawing up a Shareholder Agreement, which outlines how much time and money each of you will invest into the company and get out of it too. Having a Shareholder Agreement makes it easier for you to make decisions and can protect you should you and your business partner/s decide to part ways. Again, drawing up an agreement sets your new business on firm foundations.
If you are thinking of starting a new business or are in the process of setting up a new venture and would like legal advice, get in touch with our team to arrange a meeting with one of our solicitors. Call 01795 742291 or email email@example.com to book an appointment.