Tag Archive: business

  1. Life After Brexit: What Will It Mean For UK Business?

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    As we come to the final throes of Brexit negotiations, there are many questions still left hanging in the air. Extending the deadline in order to solidify agreements has meant lengthening this period of uncertainty, and understandably this has brought about concern for even the most supportive leave voters.

    Fortunately there are some answers we can glean from the information currently available to us. Not all of the expected outcomes of Brexit – whatever they may be – are positive, however they aren’t all expected to be resoundingly negative either. Here are some of the things we’ve learned about the future of business in the UK after Brexit, so you can start preparing now.

    Uneven Spending

    February actually experienced higher spending than predicted. According to The Guardian, official figures from the Office for National Statistics point to a stronger performance than expected.

    This increase in spending has statisticians wondering whether the combination of warm weather and a slight decrease in anxiety about the upcoming Brexit deadline is what has led shoppers to the high street.

    However, despite this increase in spending in February, March saw a sharp decrease according to a CBI survey, illustrating the uncertainty shoppers currently feel. This flip-flopping was explained by Anna Leach, the head of economic intelligence at the CBI “…consumer confidence has been hit by escalating uncertainty over Brexit and concern over the economy’s future.”

    This means that consumers are changing their minds quickly, and are willing and capable of changing them back at a moment’s notice. Take advantage of this with your marketing strategies or provide some much-needed stability in order to allay their fears.

    Trade and Workforce Discussions

    From their actions so far within the negotiations, it is clear that the EU would like to keep the door open for Britain as much as possible. At the forefront of any business owner’s mind are the possible implications for trade, and the knock-on effect immigration limitations may have on finding and retaining an adequate workforce.

    However, according to Trusted Shops, not only are the EU member states continuing to consider making it easier for the UK to cancel its withdrawal (a situation that most likely will not happen, but is still worth mentioning), Theresa May has also made decisions to help EU workers stay in the UK.

    While it’s still unclear what exactly will happen once Brexit reaches its final deadline, it’s encouraging to see that discussions that include the interests of business owners are still open and moving.

    Stronger International Markets

    “Although retailers might be losing out on the exchange rate, they seem to be more than making up for it in volume sales. In fact, PayPal recently announced that small and medium businesses (SMEs) in the UK who sell abroad saw sales go up.” – Alon Eisenberg, Trusted Shops.

    While there is no cast-iron guarantee that our European friends will continue buying from us so eagerly after Brexit, there are other nations that are keen to trade with Britain. New Zealand is already seeking a new deal with us, and of course China is a huge economic force that will become essential to the future of our international trading relationships.

    There have also been rumours of potential tax incentives to drive European businesses to our shores, which will come with its own set of positives and negatives for UK business should it come to pass.

    There is no way to offer solid advice on the future outcome of Brexit, but what we can do is continue to pay attention to the movements of our markets closer to home, and especially in the behaviour of consumers.

    We don’t know what will happen. Whether we reach the perfect deal with the EU, vote in a second referendum, or leave without a deal is undecided, but what we know for sure is that British business is influential. Consumers from the EU and beyond are accustomed to looking at the British market for innovation. This means that potentially, the most vital way to hang on to the market is to continue bringing new trends to light, and leading the way, whether in tech, manufacturing, fashion or retail.

  2. Starting Your Own Business? Let Us Help You

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    When it comes to setting up your own business, we understand that every decision you make is personal. From the contractors you hire to the insurance policies you take out, you’ll have your business’ success and your own personal business aspirations at the heart of everything you do. That’s why it’s important to work with professionals who understand how important your business is, for your livelihood but also as part of the bigger picture.

    Your business could be the result of years’ of hard work, or a brand new idea you’re taking a calculated risk with. No matter what your plans are, it’s important that you choose a small business solicitor who understands the specifics of business law, and who can support you through any challenges you might come up against.

     

    Frank and Honest Legal Advice

    At DRN, we pride ourselves on being able to offer our clients personalised advice that’s honest and easy to understand. In 2015, the Legal Services Board produced a report on the legal requirements and issues of small businesses in England and Wales, which found that SMEs lose an “estimated £9.79 billion annually due to legal problems.”

    This figure could be greatly reduced by small business owners having access to appropriate legal advice right from the start. We make sure our business owner clients are fully up-to-date on all the relevant laws and legal requirements they need to know about, from employment law to taxes, so that you can be fully prepared and secure your business for the future.

     

    Specialists in Small Business Law

    DRN’s Lancashire-based small business lawyers are specialists in helping small businesses like yours succeed, by supporting you with legal issues that may arise.

    Unlike other lawyers, our solicitors are experts in the legal complexities of small business law, and as a result, we can give you more specialised advice that related exactly to your matters at hand.

    We can help you with:

    • Choosing the right business structure for your business
    • Registering your business name
    • Sourcing and securing financing and investment opportunities
    • Creating contracts, including non-disclosure agreements, shareholders agreements, and contracts of employment
    • Patents and protecting your intellectual property
    • Legal compliance
    • Advice and compliance with data law and GDPR

     

    Professional Support

    Whenever a legal issue arises, we understand that it’s in your interest to resolve it quickly and with the least amount of disruption to your business. Most issues arising in small businesses, especially within their first 12-18 months of trading, can be avoided by obtaining proper advice in the first place.

    Many legal challenges faced by small businesses, such as those arising from tax, employment or compliance, can be easy to lose sight of when you’re running a business. DRN’s small business legal professionals are experts in the field, so you can trust them to be thorough and comprehensive, never overlooking a single thing.

     

    Competitive Rates

    As a small business owner, your priority is to save money where you can in order to keep your business succeeding.

    We offer a range of competitive packages for small businesses to make sure you start off as you mean to go on. Whether you need support in writing up your official contracts, or you’re looking for sound legal advice on sourcing appropriate financing and investment opportunities, our team of highly experienced lawyers can support you and your business from day one, at a price that offers value as well as security.

    There are many ways to start a business, so DRN work hard to provide bespoke support and guidance that will safeguard your business now and in the future. If you’re about to embark on a new small business opportunity, talk to us today to find out how we can help you achieve your business goals.

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