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Starting a business is an exciting time with many opportunities to consider. However, to make sure your new enterprise gets off the ground on a solid footing, you should always take expert legal advice.
Consulting with experienced commercial and corporate law specialists will not only help you to comply with all relevant laws and regulations, it can also assist you with establishing effective commercial relationships and limiting the risk to you if any problems occur or in the event your business fails.
At Glanvilles, we are used to assisting clients who are going into business for the first time and we have wide experience in providing advice to new businesses over a range of industry sectors. We can ensure that every legal detail is taken care of and that you have the risk protections in place for any potential future problems your business might face.
Our commercial and corporate lawyers can help you with everything from choosing the right structure for your business and drafting commercial contracts to dealing with property issues, employment law and other day-to-day legal advice for running your business.
We offer practical, cost-effective legal advice to help you deal with all of your business legal needs, keeping you safe and adding real value to your enterprise.
Our commercial and corporate lawyers help businesses across Sussex, Hampshire and the South Coast with a wide range of matters, including:
New business start-ups can take a variety of forms - a sole trader, a partnership, a limited liability partnership or a limited company. Which is right for you will depend on the type of business you want to run, who else is involved and a number of other factors.
The following is a brief overview of the main different forms of business legal structure you can choose from.
Sole trader: operating as a sole trader is a cheap and informal way to run your business where there is one owner, but comes with personal liability for all debts and liabilities of the business.
Partnership: where there are two or more people running a business, forming a general partnership would be appropriate where they wish to have fewer legal formalities with the setting up or on-going operation of the business’ affairs. However, liability is unlimited and the partners’ own assets are at risk. In addition, a formal partnership agreement is recommended.
Limited liability partnership (LLP): as suggested by the name, forming an LLP limits the liabilities and debts of the business to the LLP and not the individuals running the business. The LLP has to be incorporated and registered with Companies House and there is a fee. There are also some annual filing obligations (such as the filing of annual accounts), some of which come with a small fee.
Limited company: there are two types of limited companies; companies limited by shares and companies limited by guarantee. Both types of company must have articles of association and have formation and annual filing requirements and related fees. A company limited by shares also generally limits the liabilities and debts of the business to the company and not to the people who run it. There are key differences between the two companies and a company limited by shares would be the usual form of company for a business.
There are a number of factors to take into consideration when choosing which type of business to form. Glanvilles Corporate team can provide advice on the various benefits and implications of choosing one form of business over another depending on the type of business you intend to run and your individual circumstances.
Our commercial and corporate law team have advised a wide range of start-up businesses across many sectors over the years.
We offer seasoned legal expertise and a proactive, commercially astute approach, meaning we can help you to avoid many of the pitfalls that typically cause start-ups major headaches.
With our clear, practical guidance, we can help you get off the ground more smoothly, save your business money and increase the chances of your new enterprise achieving long-term success.
When you use our corporate law services for your start-up, we promise:
Glanvilles LLP is Lexcel accredited by the Law Society in recognition of the high standards of our practice management and client care. We are independently regulated by the Solicitors Regulation Authority (SRA).
Starting a business and looking for clear, practical legal advice in plain English? Contact our highly experienced corporate law solicitors in Chichester, Fareham or Havant or use the contact form below and we will get back to you quickly.