Whilst the economy struggles to recover from the pandemic setting up a share option scheme may be the perfect way to incentivise, motivate and keep your staff feeling valued and performing well - at a very low cost to your business.

Cash was king, but now it is seen as a potential carrier of Covid-19 and to keep cash transactions to a minimum, cashless payment systems are becoming essential. For some organisations this will be new territory, while for others online payments have been integral to the business for many years. Either way, there are several important issues for consumer-facing business owners to think about as they aim to become Covid-secure.

With Covid-19 resulting in a sudden reduction of work for many businesses some employers may be considering whether to staff their businesses differently in the future. There is a superficial attraction to using freelancers or contractors rather than employing people as there is no obligation to provide any work (and therefore no fixed salary payable) to freelances or contractors. However, businesses should be aware that seeking to re-label an employment relationship as one of self-employment will not be effective and can result in claims in the employment tribunal as well as back taxes, fines and penalties being due to HMRC.

Coronavirus has seen a large increase in online shopping and businesses have had to respond just as quickly to adapt to the new norm. Part of this change requires careful consideration of how you should change your terms and conditions of sale, particularly when it comes to handling deliveries and refunds.

Following lockdown are you considering restructuring how you staff your business?

If you are one of the thousands of business owners in the UK who have had to adapt during the past couple of months to survive the coronavirus pandemic, then it is likely that some of your contractual arrangements may not have kept pace with all the changes you have made.

As a law firm proactive in the startup sector we can support the legal aspect of your fundraising activity.

The government has announced the £250m Future Fund aimed at helping start up, scale up and venture backed businesses impacted by coronavirus.

With the business world in turmoil due to the rapid spread of the coronavirus and our determined efforts to bring it under control, company directors need to proceed with caution over the coming weeks and months to ensure that decisions made under pressure can be justified and that they stand up to scrutiny in the event they are subsequently challenged.

When you come to sell your business there will probably be a difference between the price that you think your business is worth and the amount that a buyer wishes to pay you. A possible middle ground is to negotiate an 'earn out' which is a structure whereby on the sale of a company you receive an initial amount, and then further sums will be paid dependent on the performance of the business following the sale.