Business Start-Up Legal Advice
24 April, 2020 by Darren Rainey
The Coronavirus crisis has had an unprecedented effect on the employment market with tens of thousands of people in Northern Ireland either working from home for the first time or perhaps furloughed by employers and left in limbo.
A lot of businesses sadly will not make it through the crisis and ensuing recession. Even those employees fortunate enough to have received government job retention scheme support in the short term may find that they don’t have jobs to return to in the long run.
At times like these people may re-evaluate their work/life balance and it may be that you have enjoyed working from home or being in charge of your own time and place of work. If you want to start your own business, whatever that may be, there are a myriad of things to consider but we can certainly help with the legal aspects.
Some of the main areas we advise new business owners on include:
We can advise you on the pro’s and con’s of partnership vs company formation if two or more of you want to go into business together.
If you are going down the Limited Company route we can draft the relevant documents to make sure they are suitable to your business and avoid potential pitfalls.
Shareholder and Partnership Agreements
No matter which business set-up you opt for anyone who is not a sole owner of a business should look to set up suitable agreements between themselves. These offer protection and pre-agreed methods of dealing with serious future situations e.g. if the owners wish to part company or even what happens if one of them dies.
Terms of Business
All businesses, large or small, should have robust terms of business as these will form the basis of all relationships with clients and customers. We can provide tailored terms for your specific needs or even simply review existing ones you may have to ensure they are up to date and don’t miss any important issues.
Anyone employing people to work for them knows they should put a proper contract in place for the benefit of both employer and employee. Sadly, this is too often overlooked as something of a hassle and a job for another day. We can provide tailored cost-effective contracts as well as advice on other legal obligations of employers.
As with all our services Hunt Solicitors offer a no obligation free initial consultation to see how we can assist you if you are considering starting your own business. Get in touch today on 028 90428600 or via [email protected] and let us hlp you get started.
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