What Is Your Business Going to Do Better In 2019?
We’re now half way through January, and however your personal New Year’s Resolutions are going, here are some things that we recommend every business should do for a smoother 2019.
We see the same legal problems arise from time and time again, which we believe could be resolved if local businesses took some basic precautions.
Your Business – Our Top 9 Tips For Your New Year Resolutions
In general, ‘Be prepared’ is the best legal advice. Know your position and anticipate problems. It is much cheaper to have good contracts prepared and to take advice before problems arise. Waiting for litigation to occur simply leads to much larger legal bills.
Here are our suggestions for legal New Year’s Resolutions for 2019.
1. Employment contracts – Ensure that all of your employees have up to date employment contracts, and ideally get a staff handbook.
2. Shareholders’ agreement or partnership agreement – If you run a company or partnership, make sure that you have a written shareholders’ agreement or partnership agreement. You may think that you will get on with your colleagues forever, but in practice people do fall out, fall ill or even die. Covering yourself and your family with proper documentation in advance makes sense and removes some of the risks.
3. T&Cs – Everyone should have a will – especially business owners. Getting a will written by a solicitor is easy and can cost as little as £150 – a small price to pay for peace of mind and the possibility of minimising tax.
Click here to read more about making or updating your Will
4. Written terms and conditions – Ensure that you have written terms and conditions of sale and purchase and that these are sent out for all enquiries and orders. This simple step improves your legal position enormously if a problem occurs subsequently such as defective goods, late delivery or the customer going out of business.
Click here to find out more about making sure you have the right written Terms and Conditions
5. Tighten your credit control policy – make sure that you have a tight credit control policy, that everyone knows about it and that it is used. In the current economic climate, good credit control can mean the difference between a business thriving and going under.
6. Legal health check – have a legal health check or audit. Update your written contracts, look at areas where you are legally exposed, from employment law to intellectual property and health and safety.
7. Put in place an email/internet policy. Staff wasting time on the internet at work costs British business millions of pounds. A simple and enforceable policy not only should improve productivity by cutting staff time wasted on unnecessary personal internet use but you may also find you are unable to discipline staff if you find them acting inappropriately unless you have good policies in place setting out your rules very clearly.
8. Review your complaints policy – Look at how you handle disputes in your own organisation. Do you have a complaint policy and is it up-to-date? Do members of staff know where and when to go to get legal advice? How is something that may become a major legal dispute notified to senior management in your business?
9. Review use of your lawyers, if you have them. Are they cost effective? Do they respond quickly? Do they give clear and practical legal advice? Why not check out your own lawyers on the internet – the web says so much about a business.
Worried about a legal problem? There’s no need – call us today for free initial phone advice and let us put your mind at rest.
- Call us on (01722) 422300, or FREEPHONE 0800 1404544 OR
- Complete the email enquiry form below.