Starting a business can be exciting! Turning your idea, new angle or opportunity into an effective business can result in a profitable venture but also can risk your capital.
We have advised start-ups for years on balancing these rewards and risks. We advise you on:
Avoiding bankruptcy… why not use a limited liability company as a vehicle for the venture? Generally only the assets belonging to the Company are at risk and not your house!
Setting out clearly how people are rewarded in the venture… for their cash, time or know-how. Shareholders Agreements and Employment Contracts can be tailored to cover this.
Why sign a Lease or loan guarantee in your own name? Is there another way round taking on this personal liability. Effective Terms and Conditions with customers can potentially protect you from a claim. Are you liable for loss of a customer’s profit if your delivery is late? Use provisions to exclude events like bad weather/ server failure/ strikes etc.
In conjunction with your accountant try and reduce your tax liability. We offer an initial half and hour free meeting / free newsletters on change in the law for businesses/ free seminars.