Thursday, 19 July 2012

Legal Issues For Setting Up A Business

Small Business
If you have decided to take the plunge and make your dream of starting your own business a reality, then there may be legal issues that you have overlooked and will need advice on. This post from Pannone Solicitors in London will hopefully steer you in the right direction to make sure that your business is legally ready for a great start.


First things first

Are you setting up this business on your own or with someone else? If you are going it alone then you will probably want to start as a sole trader until the business expands, you may then wish to become a limited company, this is something you should discuss with your solicitor as they will be able to give you personal advice based on your circumstances.

If you are setting up with someone else a partnership agreement will have to be drawn up to safeguard against disagreements in the future or if one of you decides to leave the company you will know in advance what your legal position is.


Let's talk shop

If you have found premises to hold your new business venture in then you need to be aware of any legal issues that may surround a change of use for example. This could require planning consent from your local authority, so be sure to check this out. If you are setting up your business from home then you may not need permission if it will not change the primary purpose of the building from a residential property. This is something you should enquire about to your local planning department; your solicitor should be able to give you advice on this too. They will also be able to look over a tenancy agreement if you go into rented premises.


Expanding

At the stage when you are ready to employ people there are so many employment laws that need to be adhered to that it is worth going over your service contracts for your employees with a solicitor. Many employment disputes arise from poorly constructed contracts so it is vital to seek legal advice on this. When you take on employees it is important to acquire the relevant insurance to protect you from a costly accident at work claim.


What next?

There are many more issues that need to be thought about when setting up a business, it would be a very lengthy article to fit them all in. There are licenses that need to be acquired for the sale of certain goods for example and if you are producing a unique product you need to make sure that your competitors cannot steal your design. These are all points that your solicitor will be able to guide you through.

For the best chance of success be sure to get legal advice from the start so that your business is prepared for a healthy and professional start.


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1 comment:

  1. With such a brief yet concise explanation on how to set up a start up business, I believe you should be conducting online business coaching so you can reach a wider audience with your insightful information. I learned a good deal from just reading your blog here. Cheers!

    ReplyDelete

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