Setting up a business

Whether you are starting your business from scratch, looking to branch out on your own or expand or divide your current business then you may need some guidance on a number of issues. For instance:-

• What are the benefits and consequences of running a business as a sole trader, a partnership, a limited liability partnership or as a company?
• If there are several of you involved in the venture would it be sensible to agree the basis upon which you will contribute to the business, how it should be run and how you can exit the business when you wish. You may need a partnership agreement, a shareholders agreement or some form of joint venture or collaboration agreement, depending on the structure of the business you are looking to set up?
• What employment issues need to be considered?
• What trading contracts will you need?

If you need to discuss this please contact:-

• david.bacon@bhmllp.co.uk
• andrew.devereux@bhmllp.co.uk

Terminating a business relationship

Unless you run your business as an individual, there will be a wide range of issues that arise if one or more of you wishes to leave. If you have put in place properly prepared agreements then there may be little scope for argument. However, if you have not done so or circumstances arise that were not foreseen then you may need urgent professional guidance as to how this should be dealt with. The sort of issues that often arise and can be bitterly contested include :-

• Can some of you carry on the business when one leaves?
• What has to be paid, if anything to the person that leaves?
• Can you force someone to leave?
• What rights and restrictions are there on the person setting up in competition?

Please contact:-

• david.bacon@bhmllp.co.uk