Business start-up advice
The lure of being your own boss is likely to be lurking around somewhere whatever trade, business or profession you are part of.
Every business is as different as every client is
Getting legal advice will ensure your firm or company is set up safely, and allow you to have a solicitor available when needed, who already knows your business and its constitution.
Based in Glasgow, Newton Mearns, East Kilbride and Hamilton in Scotland, our business start up lawyers can help you. For more advice on starting your own business, you can also read our helpful guide below.
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Are you going to run the business in your own name, a partnership or a limited company?
There are significant tax and liability implications in this. For example, if the limited company gets into a legal dispute or owes money, you as an individual have no liability at all. If you are in a partnership and your partner misbehaves, you may share liability with him or her. And if the business folds, running it in your own name may put your house or property at risk.
Where will the business be located?
If you need premises to operate from, then there are questions about leasing or purchase, its suitability to your business, finance and the costs of maintaining the building. You should have in place robust contracts for customers, suppliers, employees. If you do require to raise finance to start up , or indeed expand your business , then there are questions of securities on your house or other property, personal loans and guarantees, contributions of investment by partners. And there is much, much more, every business is as different as every client is, and getting legal advice will ensure your company is set up safely, and allow you to have a solicitor available when needed, who already knows your business and its constitution.