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Tag: Commercial Law

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The Biggest Challenges SMEs Face – & How to Overcome Them

Business Law

Saturday 30th November marked Small Business Saturday, which celebrates small business across the United Kingdom. SMEs face several challenges in an uncertain market, from maintaining profitability, attracting new customers and retaining valuable employees.

Gareth Thompson

Gareth Thompson, Commercial Solicitor at CJCH, discusses the common challenges faced by SMEs and how advice from a specialist solicitor provides value to a small business.

What are the most common legal issues SMEs face?

Most common legal issues arise from failing to adequately have in place contracts between employees & suppliers. Additionally, poor management with cashflow or credit control causes issues for SMEs.

What are the different business structures?

Whether it’s a sole trader, partnership, private limited company or limited liability company. Solicitors advise on the different features of business structures. Each has its own advantages and disadvantages. Whilst you can change the structure down the line, it is better to get it right from the outset. Importantly, seek legal advice to choose the correct structure for your business.

How can a solicitor help owners protect their business from copycats?

It is vital that SMEs protect their Intellectual Property! Especially for new businesses – incorporate to get the trade name registered, registering trademarks or patents. Moreover, ensure the service and employment contracts have valid non-compete clauses.

How can small businesses prepare for Brexit?

The dreaded B-word! The UK government published tailored advice to prepare your business – reading that is the best place to start. The link is found here: https://www.gov.uk/business-uk-leaving-eu

Furthermore, if your SME is supplied or exports to the EU, it is imperative to ensure contracts are in place ahead of Brexit. Engage with your partners to asses their own readiness – it’s not just your own business, after all.

What top tips would you give to someone running a small business?

A common issue for SMEs, particularly new enterprises, is maintaining cash flow to sustain growth. It is important to know your outgoings, bundle products & services and encourage repeat business.

Above all, the three golden rules are – have appropriate contracts in place! Protect your IP! Ask for help/legal advice! The last point is especially important, seeking legal advice can save your SME costs down the line.

How can we help

CJCH’s commercial services span the full spectrum of corporate and commercial requirements. From start-ups, medium-sized and large organisations, we provide legal support and advice to leverage opportunities and minimize risk to your business.

Get in touch with a member of our commercial team today.

Telephone: 0333 231 6405

Email: commercial@cjch.co.uk

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Supporting SMEs with Legal Issues

Running a business is in equal parts exciting and daunting. It involves complex legal issues which are overwhelming without the proper legal advice. CJCH’s commercial solicitor, Gareth Thompson, discusses the most common issues faced by SMEs and the value a commercial solicitor brings to a business.

How do you support businesses that are just getting started?

It is important to ensure incipient businesses have all the relevant documents in place to begin trading. This will vary from business to business but will usually include employment contracts, insurance, due diligence and risk assessment. Finally, it is crucial that the business takes steps to protect its intellectual property, which may not be at the forefront of the owner’s mind.

How can a business solicitor help an SME choose the right business structure?

This will depend on the needs of the business owner. Each business structure has its own strength, seeking legal advice will help you choose the right one. The most commonly chosen business structures are as follows:

  • Sole Trader
  • Partnership
  • Limited Liability Partnership (LLP)
  • Limited Liability Company (Ltd)

What are the most common legal issues SMEs face and how can solicitors help business owners avoid them?

The initial issues faced by SMEs usually revolve around setting up employment contracts and drafting articles of association. Whilst it might be attractive to business owners to use standard templates for these documents, there is a real risk that they do not suitably protect your business interests. This might lead to costs for the business later. Consulting a solicitor in the first instance mitigates this risk.

How can SMEs ensure that they are GDPR compliant? Why is this important?

Ensure that staff are appropriately trained and appoint someone as GDPR liaison within the company. Compliance is crucial as the Information Commissioners Office can issue large fines for companies in breach.

What are your top tips for someone looking to start their own business?

Get contracts written! Get insurance! Protect your Intellectual Property! Continue to seek legal advice from a commercial solicitor as the business matures.

How can we help?

The CJCH commercial team’s services span the full spectrum of corporate and commercial requirements. From startups to SMEs & large organisations, we provide legal support and advice to leverage opportunities and minimise risks to your business.

Get in touch via:

Telephone: 0333 231 6405

Email: commercial@cjch.co.uk

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Your Business, Your Solicitor – Adding Value to your Business with Legal Advice.

Business Law

Last week we took part in Solicitors Chat with the Law Society as part of their ‘Your Business, Your Solicitor’ campaign. Gareth Thompson, Head of Commercial at CJCH sat down to talk about the various ways a commercial lawyer can use their business law expertise to facilitate properly informed decision making for their clients.

What are the benefits of consulting a solicitor for business law advice?

Solicitors can carry out proper due diligence and risk assessment. Consulting a commercial lawyer can add value to a business by promoting legally compliant and ethical business dealings.

What issues do you advise businesses on as a solicitor?

Commercial lawyers can give advice on a wide range of business matters. Everything from commercial acquisitions, employee relations, asset securities, business structuring and raising investment capital.

How do you work with your clients to make sure their needs are met?

The most important job of a commercial lawyer is to understand the business structure, aims and objectives of your client. Communicating constructively with your client and managing their expectations correctly to meet their needs.

Ultimately, a good commercial lawyer will act like a business partner, not just a service provider. Advice should always be relevant, and outcome focused.

As a solicitor, what value do you feel you can bring to a business?

Solicitors can add value to a business by being proactive at managing risk, protecting revenue, maintaining cash flow and maximising profits. Commercial lawyers can provide tailor made solutions to businesses of all sizes – from start-ups, medium size or large organisations.

What are the key things that make a positive solicitor/client relationship?

There needs to be understanding of the client and solicitor’s roles, needs, objectives and goals. It is important to be honest about your intentions, expectations and the ability to deliver. You must be transparent about time, costs priorities and resource management. Ultimately, for a positive relationship there needs to be trust – in expertise best intentions and commitment to outcomes

How can we help?

If you have an inquiry about your business, CJCH’s commercial services span the full spectrum of corporate and commercial requirements. Talk to a qualified member of our commercial team today.

Get in touch via:

Telephone:  0333 231 6405

Email: commercial@cjch.co.uk

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Security of Tenure for Commercial Leases – What does it mean?

Security of Tenure for Commercial Leases

The Landlord and Tenant Act 1954 Part II (‘the Act’) confers security of tenure on business tenants and regulates the manner in which business tenancies can be terminated.

What does this mean? Sam Pearson, our commercial law trainee explains that firstly, a business tenancy will not come to an end at the expiration of a fixed term. Secondly the tenancy cannot be terminated unless the Landlord gives sufficient notice to quit.

The statutory right of renewal can be triggered if either the Landlord gives notice of termination or the Tenant requests a new tenancy. Notices must be prepared and served in the required format and within strict time periods. There are many pitfalls with the notice, drafting and procedure and we strongly recommend seeking professional advice.

A Landlord can only oppose a business tenancy protected by the Act on certain statutory grounds:

  • tenant’s failure to repair.
  • persistent delay in paying rent.
  • substantial breaches of other obligations.
  • offering suitable alternative accommodation.
  • demolition or reconstruction.
  • landlord’s intention to occupy the holding.

Compensation may be payable to the Tenant if the Landlord’s application is successful. If the Landlord’s opposition to a new tenancy fails and new terms are not agreed, then an application to Court will be required. A Judge will set the terms and rent after receiving expert evidence.

On taking a new commercial lease the parties may have agreed that the tenancy will not have any statutory right of renewal. In order to do so the Landlord must serve a notice on the Tenant in the prescribed form. The Tenant must make a formal declaration confirming receipt of the notice and accepting the absence of any statutory right of renewal.

Whether you’re looking to renew a commercial lease, seeking advice on a contested lease renewal or looking to contract out of the Act our experts at CJCH Solicitors are ideally placed to provide you with the right advice to suit your business needs.

Our commercial team are available to assist at commercial@cjch.co.uk, or on 0333 231 6405.

Announcements

Winner: Public Law Team of the Year 2022 – Wales Legal Awards

We are proud to announce that the CJCH Court of Protection team was named the Public Law Team of the Year in the 2022 Wales Legal Awards. Recognising the work they do with individuals who lack the capacity to act in their own best interests.

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Winner: Cardiff Life Awards 2019

With a dedicated focus on service excellence, and a passion for innovation the CJCH team was the proud winner of the best Legal and Financial Business of the Year in Cardiff for 2019!

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CJCH Solicitors appoints new Board member

Wales top 20 Law Firm and 2018 Financial and Professional Services Firm of the Year in the Cardiff Business Awards - CJCH Solicitors, has announced a major promotion in their leadership team welcoming Jodi Winter to their Board.

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Winner: Cardiff Business Awards 2018

CJCH Solicitors has experienced unprecedented growth and achieved important milestones over the last few years, all of which have culminated in the first half of 2018 being a prosperous year for us at the Firm and winning the Financial and Professional Services of the Year award.

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