The last thing on many business owners’ minds is looking out for potential threats that could be lurking in the form of new legislation or changes to their employees’ situations.
Instead, business owners are more concerned with getting on with the day-to-day running of their companies, working hard to get it back into shape after what has been a difficult year for many.
What would you do if out of the blue your company is affected by a change in regulation that could cost you money, or a member of staff becomes pregnant or announces their early retirement?
These are all potential situations that could fall at many business owners’ feet at any time,and the implications of reacting once the action has taken place can often be more difficult to resolve and more expensive than if actions had been taken to put procedures in place beforehand.
Hindsight is a great thing, but unfortunately businesses still hope that avoiding a matter and not calling on the assistance of a lawyer early on will be sufficient – and cheaper.
Many businesses still regard lawyers as a luxury that they can do without. But in reality a good solicitor will not only get you out of a tight spot, they will help to protect and maximise your profits.
“Businesses should consider regulating three things; their relationship with partners and shareholders, their relationship with employees, and their relationship with customers.
“Finally, you must regulate your relationship with your customers and suppliers by standard terms and contracts that cover business-to-business trade. If certain clauses and terms are not drafted in a certain way, they are not worth the paper they are written on. A properly drafted set of standard terms and conditions may cost you £400 but they will put you in a stronger position if the quality of your service is disputed.”
What may seem daunting and costly doesn’t need to be, and can avoid costly legal action down the line. Peter Lynn & Partners offers a starter pack to businesses that will protect against all three elements from as little as £1,000 with the option to spread the cost with a payment plan.
contact Peter Lynn on 01792 450010 or visit www.peterlynnandpartners.co.uk