Wanting to start out on your own? It’s never too early to take advice on the legal implications. Jill Theobald got the lowdown from Taylor Bracewell’s experts to find out more about the key areas all wannabe-bosses need to consider
Time is money, as the old adage goes and any established entrepreneur will no doubt agree.
It turns out its as true about starting a business too because as I quickly learnt from my time with Taylor Bracewell being aware of the legal pitfalls at the outset ‘inevitably saves time and expense’.
Taylor Bracewell have multiple offices which are located at Sheffield (11 Paradise Square, S1 2DE) and two offices in Doncaster (17-23 Thorne Road, DN1 2RP and 1 Railway Ct, DN4 5FB) where their large team of experts advise businesses large and small, new or established on all commercial matters.
So over to two legal specialists to discuss areas you need to consider before embarking on your own enterprise.
Employment – Harriet Gardner, trainee solicitor
The contract of employment is the first and foremost document you need to consider. Employers are required to provide employees with a written document summarising the main terms of their employment on the first day of starting work. It should contain information such as job title, salary and holiday entitlement. Do not forget to confirm any changes in writing such as an increase in the employee’s salary.
The staff handbook contains all the details the employee needs about the workplace, including company policies and procedures, and should be used as a guide to ensure consistency in treatment of employees. Extremely important in today’s world, a carefully drafted handbook and contract can help to defend a claim should the employee choose to issue one.
You need to give thought to obtaining employer’s liability insurance, if you need to set up a workplace pension and the various employment checks you need to carry out including if the employee has the legal right to work in the UK. You also need to remember to register as an employer with HM Revenue and Customs.
Employees are the most important asset and recruiting the right people is expensive and time-consuming but when done properly, employees are more likely to remain, work hard and, ultimately, cause fewer issues.
Our Bulletproof Protection Plan helps guide you through the employment law minefield. The main perk is the ability to access advice from an employment adviser who will provide draft letters and who understands how each client likes to operate their business.
Top tip:
Keep a record of important discussions with employees (such as appraisals or difficult conversations) including the date, who was present during the conversation and a summary of the discussion. The most effective note is one shared with the employee for them to sign to confirm that the content of the note is correct.
Commercial Property – Alison Turner, head of commercial property
Every business has different needs whether leasing premises or purchasing a freehold property.
Our Commercial Property Team has a wealth of knowledge and experience in assisting businesses of all sizes in acquiring the perfect premises and helping with their ongoing needs.
Here are just a few top tips:
Find the perfect premises – don’t settle for second best, this is the building which you are going to see your business grow into so make sure it’s the perfect premises for you and your business.
Make sure your business is able to carry out your trade from the premises – restrictive covenants can bite you.
A lease may be the right option – consider leasing as an alternative to buying.
Always consider if you need more than legal help, you need to ensure that your business is fully protected and ready for anything that will come its way.
Check if planning permission is required for your use of the premises.
If leasing, always keep the landlord happy – make sure your rent is up to date and if you want to do any works always check to see if the landlord has to consent first.
So now you know the basics in the key areas for starting your business, however as easy as it sounds we understand it is not.
That is why we have staff working around the clock to ensure that all businesses and people within South Yorkshire have a point of contact if something was to occur.
If you require any more information on any of the topics discussed don’t hesitate to call us.
Sheffield – 0114 272 1884
Doncaster – 01302 341 414
Also keep an eye out for our next edition where Phil Crawley, Head of Commercial Property and Emma Cornell, Head of Dispute Resolution will be giving an insight into what you need to consider to be a wannabe-boss.
