Tuesday September 28, 2010 at 11:35am
Back in March I blogged on the 5 new mandatory licence conditions attached to every Premises Licence and Club Premises Certificate. To remind you the first 3 came into force on 6 April 2010, and the remainder come into force this Friday 1 October 2010. All apply even if not endorsed on the paper document.
The first 3 were the the ban on irresponsible promotions, the ban on the so-called "dentists' chair" supply of alcohol, and the requirement to have free tap water available to....
(read more...)Monday September 27, 2010 at 6:55pm
Property costs are a large overhead for most businesses. Here Steve Petty lists 10 of the best ways to save money both now and when relocating. 1. Time to renew your lease? If you are coming towards the end of your lease then now would be a very good time to take control of the renewal process. It is likely you will have been locked into a lease for a few years paying rent agreed or reviewed at the height of the market. By getting good advice and following the correct procedu....
(read more...)Thursday September 16, 2010 at 10:32am
It is clear that it is SME's who are bearing the brunt of the cash flow crisis caused by late payment or extended payment terms imposed by their biggest customers. A recent report by Touch Financial, an invoice financial broker, suggested that of 200 businesses questioned over half had changed their credit terms in the last 12 months, imposing longer payment terms on their suppliers. This in turn is having a big impact on the suppliers cash flow and ability to invest, as the banks still hav....
(read more...)Wednesday September 15, 2010 at 7:36pm
Company directors are subject to so many duties that, if they are not careful and don’t take proper advice, they can easily find themselves in breach of one or more of their duties. But, in SMEs and family-owned companies, the directors and shareholders are usually the same people; so who cares anyway and how would anyone find out about the breaches? Some breaches are very easy to commit, and many directors don’t even know they are doing anything wrong. For example, there are various....
(read more...)Wednesday September 15, 2010 at 10:07am
Leasing business premises can be a real minefield for the unwary business owner. In this series of posts I shall go through the various aspects of a
commercial lease to explain some of the legal jargon and also provide some lease negotiation tips along the way. C is for Covenants
The word 'covenant' is used in two very different contexts in relation to commercial premises.
'Covenant' usually refers to a promise made by either the landlord or the tenant (or the guarantor if there is one). ....
(read more...)Friday September 10, 2010 at 9:10am
Leasing business premises can be a real minefield for the unwary business owner. In this series of posts I shall go through the various aspects of a commercial lease to explain some of the legal jargon and also provide some lease negotiation tips along the way.
B is for Break Clauses
One of the most important clauses in a lease for those starting up a new business.
Many new ventures fail in the first two years of operation yet leases are frequently 5 years or more in length. The premise....
(read more...)Wednesday September 8, 2010 at 10:29am
When preparing to sell your business, it is crucial to take the right advice as this can have a big impact on the success of the sale, the amount you receive and any ongoing liability following completion. Here are 10 reasons why it is essential to use a good solicitor when selling your business: 1. Share or asset sale
The two main methods of structuring the sale of a business are to dispose of the shares or the assets. The two are fundamentally different but a solicitor will be able to advise....
(read more...)Wednesday September 8, 2010 at 10:16am
I am often asked by business owners for help when they are taking a lease of commercial premises. Unfortunately this is after the main terms have already been agreed in principle. Ideally you should get your solicitor involved before agreeing terms as various concessions can usually be negotiated that can save time and money for your business both immediately and in the future. Listed below are the 10 key points to consider when talking to the landlord or their agent: 1. Ask the landlord fo....
(read more...)Tuesday September 7, 2010 at 8:52am
Leasing business premises can be a real minefield for the unwary business owner. In this series of posts I shall go through the various aspects of a commercial lease to explain some of the legal jargon and also provide some lease negotiation tips along the way.
A is for Alienation
Well we're on our first letter of the alphabet and already we have some legal jargon to contend with. 'Alienation' is just a legal term which covers a tenant's right to deal with a lease. The most c....
(read more...)