Start ups can often be faced with the dilemma of balancing their initial costs, with the need to ensure that they are protected from the outset. Over recent years, it has become increasingly common for businesses to approach us with an issue that could have been avoided, if the appropriate legal advice and documents were in place from the outset. However, the reality is that getting the necessary documents in place to protect your business can be a costly exercise.
That is why Farleys recently announced the introduction of Evolve – providing start up businesses with discounted fixed fee legal services. The aim of Evolve is to make sure that you can get the necessary documents in place to protect your new business, without having to worry about your initial working capital.
Further good news for start ups is that the government recently announced that £250 million pounds worth of new loans have been made available to start ups. Since 2012, approximately a quarter of a billion pounds worth of loans (funded by the government through the British Business Bank) have been made available to start ups in the UK.
On this announcement, Business and Energy Secretary Greg Clark said:
“Whether you live in England, Wales, Scotland or Northern Ireland, and whatever your age, everyone should have the chance to turn a great business idea into a reality. British entrepreneurs and small businesses are the backbone of our economy. This government will build on the success of Start Up Loans to give entrepreneurs the support and opportunities they need to start a business, grow it in Britain and turn it into a global success story.”
There really is no excuse not to have some protection in place. Investing a little at the outset may save you significant costs in the future.
If you would like to speak to us about how Farleys Evolve can assist you, or to speak to our commercial team on any other matter, contact our commercial team today on 0845 287 0939 or complete an online enquiry form.