What Can A Small Business Lawyer Do For You?
To be a successful small business, you will need legal advice. Getting the right legal advice is essential because it enables you to understand the legal consequences of your business actions, adequately protect your business and legal interests, make smarter business decisions, and avoid unnecessary legal problems. Unfortunately, not all small businesses and startups get the legal help they need or even seek legal advice at all.
A 2013 Legal Services Board (LSB) report found that only 6.4% of the 9,703 small businesses surveyed had a qualified lawyer or person trained to handle legal services. A 2015 LSB report on legal needs of small businesses in England and Wales also found that small businesses lose an estimated £9.79 billion annually due to legal problems. This number is down from the £100 billion loss reported in 2013.
Despite the decline in 2015, these figures clearly show that small businesses are not getting the legal help that they need and the lack of legal help is severely impacting their profitability and bottom line. Given that small businesses and SMEs account for 99% of all private sector businesses, a large percentage of them should be seeking legal advice. It is more important than ever for small businesses to receive adequate legal advice.
In fact, by not seeking legal help and trying to solve their legal problems on their own, small businesses and startups actually lose more money and experience more legal problems than they would if they just sought professional legal help.
Where And How Can You Get Legal Advice For Your Small Business Or Startup?
The best way to get legal advice for your small business or startup is by talking to a commercial lawyer. Commercial lawyers can help you identify potential legal risks and navigate any legal challenges or hurdles you might encounter during the course of your business.
Interestingly, there are also lawyers specifically for small businesses and startups.
A small business lawyer is a lawyer who specialises in helping small businesses, startups, entrepreneurs, and SMEs resolve their legal issues. Unlike regular commercial lawyers, small business lawyers are more familiar with the legal complexities of running a small business and are able to give more specialised advice.
Small business lawyers can help you:
- Choose the right business structure
- Register your business name
- Locate sources of finance
- Create a Non-Disclosure Agreement, Shareholders Agreement, Employment contracts
- Protect your intellectual property
- Exercise proper due diligence
- Comply with relevant laws and regulations
Small business lawyers are usually less expensive than commercial lawyers and more likely to take an active role and personal interest in the success of your business. Like regular commercial or corporate lawyers, they are licensed and regulated by the Law Society and the Solicitors Regulation Authority (SRA), and the Bar Standards Board.
It is always better to get advice sooner rather than later and to use a trusted lawyer.
If you need expert and trusted legal advice suited to your price range and business needs, look no further than Linkilaw.
Linkilaw Is THE Legal Platform For Startups And Small Businesses
We provide multiple fixed-rate quotes from hand-selected lawyers free of charge. Our lawyers are thoroughly vetted and specialise in areas like corporate law, commercial law, employment law, intellectual property law, and commercial property law. Best of all, there is no obligation to go forward or speak to a lawyer. If you change your mind or something doesn’t feel quite right, you may select another solicitor to work with.
Give us a call on (+44) 0203 151 0011 or submit your enquiry and our legal team will be happy to book a free one-to-one consultation with you.
The information provided on this page does not constitute legal advice.