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You may need finance for your business to fund growth projects, maybe to fund the purchase of plant and equipment, diversification, or expansion.  Maybe the need to raise finance is to complete a management buy-out, to acquire a competitor or a complementary business, to purchase a freehold or leasehold commercial property, or to invest in a new corporate project. Whatever the reason you need to consider the finance options open to you and their potential pros and cons.  The devil…

A former Government Minister has suggested plans to diverge from European Union data protection rules may be ditched, adding that such a move could result in the UK being no longer seen as a trusted partner in the field of data security and could cost businesses money. Lord Kirkhope says the change of Conservative Party leader, and by extension Prime Minister, offer an opportunity to pause post-Brexit divergence plans. The new Data Protection and Digital Information Bill puts forward a…

With cybersecurity attacks on the rise, the National Cyber Security Centre and the Information Commissioner’s Office is stepping up a campaign advising companies not to give in to ransomware requests. As of 2021, the average cost of a cyber incident to organisations in the UK was highest in the energy sector, with a median cost of 35,439 U.S. dollars per cyber event (Source: Statista). Other business sectors where the impact cost of a data breach are high, include financial services, retail and…

Could a business angel be the answer to your startup business prayers?  Early-stage businesses are generally in need of funding to bring an idea to market but sometimes funding alone is not enough to help them thrive, especially when expertise is critical to success. A business angel could be a good solution to explore and consider because they can provide both expertise and finance.   What is a business angel?  Probably the most known business angels are those that sit…

Starting any new business comes with a steep learning curve, especially as a founder when you often find yourself wearing all the management hats. This is why it is important to deal with the core legal issues early, so that when the time comes to scale up, your business is ready and in good shape to expand

Have you ever signed a contract which seemed to be perfectly clear, straightforward and reasonable at the time it was agreed, but which later turned out to be ambiguous in important respects or which gave rise to unintended and arguably unfair results? If so, you are not alone. Indeed, in our experience, many business contracts are not as clear as they could be and this can lead to all sorts of problems – particularly when things go wrong and parties…

Our Checklist for Preparing a Shareholder Agreement is a good place to start when preparing your shareholders agreement. Thinking about these questions and being able to answer them will get you a long way to creating your shareholders agreement:  JPP Law offers fixed price shareholders agreements. If you would like a no obligation quote, please book your free consultation with a member of our legal team.  During the call the solicitor will talk to you about your requirements and then follow…

It is critically important that directors understand their obligations when their company is in financial difficulty.  Directors have a duty to understand the measures they can take to mitigate the risks. Companies that make decisions, sometimes painful ones, decisively and with the support of a good professional advisor tend to have a greater range of options and a better chance at recovery.   Key points:  A company may be insolvent on a cash flow or balance sheet basis.  Insolvent trading concerns…

As your business grows, instead of taking on more staff, you may decide to outsource certain services either on a temporary or more permanent basis. There is almost no limit to the type of services that can be outsourced nowadays, from manufacturing and drop shipping, through to IT, marketing, payroll, or finance support, to customer facing roles and sales support. As the world of freelancing has developed, you are not even restricted to finding a provider within these shores. 'While…

Setting up a new business is an exciting time, and there are a thousand things to think about, but if you are launching your new venture with one or more other colleagues it is imperative to decide in advance how you are going to structure it legally.