Top 5 new year tips for businesses

For many business owners, the beginning of a New Year is a time to give thought to ambitions and objectives for the year ahead, and with an uncertain political and economic climate in 2017, never has there been a more important time to ensure your business is robust enough to achieve its goals. When thinking about the next twelve months, here are the Top 5 legal issues we believe you need to consider:

  1. STAFF – People are increasingly conscious of and concerned about employment issues, so make sure contracts of employment are relevant to your current circumstances, in place and adhered to. Also, with Brexit set to dominate the national agenda this year, ensure you are up to date on all developments relating to foreignworkers, visas and work permits.
  2. TERMS & CONDITIONS - Are your current terms and conditions the most beneficial to your business? Could you make changes to help with cashflow? Can the terms of anybusiness guarantees you are committed to be modified or updated to your advantage?
  3. PROPERTY – Rent reviews coming up? Ready for negotiations with the landlord?Perhaps you will be looking for bigger premises? If you foresee your business moving, make sure you are aware of all details in your contract such as potential ‘Break Clauses’ which could enable the lease to be terminated early.
  4. DEBT - Are you owed money? Do you owe money? If your business has paid off any debentures (documents that create or acknowledge debt) and charges it may have had, make sure that these are removed from the registers at Companies House and Land Registry. This will improve the credit rating and value of your business should anyone look you up.
  5. GROWTH - Are you planning to merge with another business? An acquisition or a takeover? Perhaps an expansion of shareholders or your equity partnership? Maybe you are preparing your business for sale? Have you got the right expertise lined up for your best interests?

Here are the types of cases we handle:

  • Contracts of Employment
  • Employer Staff Handbooks
  • Redundancy Process
  • Breach of Contract
  • Breach of Restrictive Covenants
  • Tribunal Claims
  • Settlement Agreements
  • Consultancy Agreements

Sports and Football Law

  • Contracts of Employment
  • Service Agreements
  • Contractual Issues
  • Executive Departures

“The (Corporate and Commercial) team did Verisona Law proud. I really appreciate all your assistance throughout the transaction.”

Director of a Groundworks and civil engineering business, June 2018

“I would just like to say a very big thank you to you for all of your amazing hard work and patience during the course of the sale. Myself and the family very much appreciate it.”

Exiting shareholder of an IT company, July 2018

“Thank you for all your work in dealing with the acquisition, your advice has been really helpful.”

Seller of a healthcare business, January 2019

"Over the years, I have developed a great trust in my working relationship with Mike Dyer, Head of Commercial Law at Verisona. One of the things I value most is that he is always at the end of a phone. On the rare occasions he is unavailable, his secretary is always well informed and very helpful. Through Mike, I have met many other members of Verisona and, just like in the recruitment industry, they understand the importance of being treated like an individual. They make me feel valued and important to both them and their business. At Verisona, you always deal with real people who you know and are in a position to help. Most importantly, Verisona delivers. We recently had an urgent situation regarding the restrictive covenants of new members of staff. Employment specialist Susan Ball came in on a day off to listen to us, dissect and analyse the situation, and translate what we wanted to achieve into the best possible legal language and solution. This is just one example of the calm, efficient professionalism I have come to value from Verisona over the years. Verisona has a refreshing approach to the law. They are there when we need them, always easy to talk to, go out of their way to make sure that we understand what they are doing for us and why, and always get the best results".

Stuart Cox


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