Contact us now and we will assist you to identify your key risks and protect against them by preparing customised terms and conditions.
Business Growth for Early Stage Businesses
Business Growth comes with increased risk. Limiting legal liability is a key factor in minimising risk, so you can achieve a net benefit from the increased revenue.
The 5 key objectives to achieve before seeking Business Growth are:
1. Ensure that you have bulletproof Terms and Conditions
Many Businesses gain traction and early growth before they have an opportunity to properly consider how to manage the significant legal risks associated with dealing with clients, customers and other third parties (such as suppliers).
Having Terms and Conditions containing appropriate legal protections is critical to ensuring that you do not take on unnecessary risks to achieve Business Growth and increased profit.
2. Implement Asset Protection before it’s too late
Business Growth means an increased risk of customer or client law suits, such as where a customer suffers a loss, becomes injured, or worse.
As a Business Owner, you should take active steps to protect your Personal and Business Assets from risk. Otherwise, one unfortunate event could destroy your Business and bring your livelihood to an unplanned and costly end.
We can provide you with a comprehensive Risk Assessment so you can evaluate your own Asset Protection needs.
3. Identify and protect your Intellectual Property, especially from Insolvency Risk
Every Business has Intellectual Property, even if sometimes it’s not that obvious.
Intellectual Property covers business names, trading names, logos, and original works created by you or used in your business. It also includes your ‘Secret Sauce’, which might include business systems, processes, methods, know-how, trade secrets, and confidential information.
Identify your Intellectual Property, quarantine it from Business Risk, and feel safe that your Business will survive a catastrophe.
Reach out now for a comprehensive assessment of your Intellectual Property, so you can decide what protection measures need to be put in place for your Business.
4. Negotiate a favourable Lease of Business Premises
Many Businesses need physical Premises to trade from, such as an office, shop, or warehouse.
Rent is often one of a Business’s largest expenses in early years (and beyond). For that reason, it is important to negotiate a favourable Lease which suits your needs and future plans.
Don’t underestimate the financial burden and impact of a poorly negotiated Commercial Lease. It could mean the difference between profit, or loss.
We have reviewed hundreds of Leases across every industry, enabling us to easily spot the red flags for any Lease. Contact us to find out more.
5. Raise Capital or borrow funds to finance Business Growth
Raising Capital is challenging, but is often necessary to fund Business Growth and/or Research and Development.
Commonly, Early Stage Businesses raise funds initially from friends and family. However, eventually funds may be required from external investors. Think Seed Investors, Angel Investors, Venture Capital Firms, or High Net-worth Individuals.
Alternatively, you can obtain finance from a financial institution, such as a Bank or Credit Union.
Both options have their advantages and disadvantages, and the sensible approach is to ensure that you obtain appropriate legal advice to navigate the pitfalls.
We assist Businesses to raise capital every day of the week. Reach out for a free call today to discuss your Capital Raising options.
