Four Reasons Why Your Small Business Need A Business Solicitor
Most people do not think about hiring a solicitor until they absolutely need to. They wait until they receive an official notice in the post that they are being taken to court, or until they get a threatening email informing them that the other person is going to call their lawyer. We don’t need to tell you that this is the kind of moment that can send anyone into a panic. The most important thing to do in these circumstances is to take a breath, make sure that you have a record of everything that has led to this point, and call a solicitor. Now, you might think that a business solicitor is the kind of service that is only required by big companies attempting massive mergers and settling far-reaching disputes. The fact is that if you run your own business if you’re thinking about setting one up, or even if you sell your wares online, there are plenty of scenarios where you might need a business solicitor. Here are just a few of the reasons why.
Drawing Up Contracts With A New Supplier Or Partner
One of the most common causes for legal disagreements between businesses is some kind of contractual issue. Whether it’s wanting to go back on something that has previously been set in stone, or noticing that there has been a breach, it is so important that you have a crystal-clear idea of what is written in your contract. That way, you understand what you are liable for and when you can raise an issue yourself. A good business solicitor can go through contract proposals with you to identify any areas that cause potential issues, and they can help you work on adding additional coverage for your business. It is also a very good idea to talk to a solicitor about contracts for any new employees you want to bring into your business. It’s much better to be clear upfront than face any ugliness further down the line.
Resolving Contractual Disputes
This brings us to our next point. While contractual disputes should be relatively straightforward (you would think that something is either in the contract or it isn’t, wouldn’t you?), they can get messy very quickly. One of the reasons why they can become so fraught is that there is always going to be a personal element when you are running your own business. You have entered into an agreement in good faith and on a basis of trust as well as what is written in the contract. But when things get a little heated, that is when you might make a mistake or overstep.
This can be especially difficult if you are having a disagreement with a partner or investor. With Brexit difficulties and the ongoing pandemic, everyone is dealing with a lot of financial uncertainty. Someone who may have had a big chunk of money to invest in your business last year may not be feeling so flush right now. It’s one thing if someone goes back on a verbal disagreement, but a contract has been signed then you are well within your rights to seek legal advice. Bringing in a business solicitor ensures that the matter is handled as quickly, calmly and professionally as possible.
Avoiding A Day In Court
Why is it so important that issues get resolved quickly? Well, because as much as you might want to take someone to court and demonstrate that they are the ones at fault on the record, it is much better to avoid that if you can. Turning a disagreement or commercial litigation dispute into a fully-fledged legal case can be expensive and is very time-consuming. Right now, when we’re dealing with so much uncertainty in the marketplace, these kinds of costly distractions are best avoided. Ashwood Solicitors have experience in dealing with a wide range of different commercial legal issues and they will prioritise a swift resolution.
If You Have Trouble With HMRC
Speaking of things that are best avoided, every small business does its very best to avoid getting into trouble with HMRC. However, if you are setting up your own small business then you may not be aware of all the responsibilities that you have in terms of filing the correct paperwork and paying your taxes. As we mentioned, things are extremely tough out there right now and this is not the best time to put a foot wrong when it comes to legal and financial obligations. It is a good idea to talk to a business solicitor about the best way to set up this payment policy, but you absolutely should get in touch with one as soon as possible if HMRC raises an issue and you think that it’s a mistake. They will be able to allay your worries and establish whether something has been missed or if this is indeed something that you need to resolve yourself.