You have finally launched your small business and everything seems to be in place, but one thing that you should always consider is to regularly obtain small business legal advice.  You may feel that you don’t need it as you are in control, you might be the only employee or you may have a handful.  But either way, the minute you start trading with clients or customers you should have some legal back up as situations can always arise.  Seeking professional legal advice for small businesses at the earliest possible stage will save you money in the long-term and avoid frequent pitfalls.

Here are a few situations to consider:

If you have just started up a small business on your own then it’s likely that you are a sole trader. Being a sole trader can leave you exposed with a risk to your own personal assets. So make sure you understand the risks and benefits to having your own company.

You need to make sure that you protect your business ideas no matter how small scale they might be - trade marks, company name registration, domain name registration etc.  This can help protect your small business ideas and avoid them being copied and exploited by others.  This situation can arise all too often so you should seek legal business advice and contact Companies House to register your information.

Protect yourself with ‘limited liability' insurance.  You should always make sure that you make room in your monthly budget for this kind of expense.  This insurance will cover you if problems occur within your small business and will mean that your company is sued, and not you individually.

Obtain legal property advice when it comes to your business premises.  Office space can be a minefield of decisions; serviced offices, 80-year full-repairing lease, or a freehold premise? Which ever you choose you will need to part with money immediately and pay for the rent, deposit, stamp duty, purchase price and service charges.  To avoid you paying over the odds or for things that you don’t need to shell out for upfront you should look to employ a small business solicitor to help you through this process.

Once you start trading you need to make sure that your documents are up to scratch e.g. purchase order forms, terms and conditions, invoices and receipts etc.  Your paperwork will protect your business should any discrepancies arise; they act as a contract and as a back up if a customer wants to return something or if money is queried.  If you have the right documents in place stating your terms then your company will be protected, but only if they are written properly and they adhere to the law.

You need to know your legal obligations when employing staff; an employment contract needs to be written and needs to be full proof.  You should be aware of your liabilities towards your staff and have planned for the legal statutory allowances such as sick pay and maternity leave.  Its best to obtain legal advise about employment law to make sure that you are doing the best by your employees and you wont have a court case on your hands!

It may seem extreme but you need to have a disaster plan in place, what if the worst happens and your offices burn down, or you and your business partner fall out or one dies?  You may become bankrupt and need to sell up.  It may seem like a negative start to put this documents in place when you are just beginning, but its best to protect yourself as anything can happen.