Launching a new business | What you need to know

Launching a business in the UK is an exciting yet challenging process involving a complex web of legal requirements.

The corporate solicitors at our trusted legal partners Slater Heelis are here to guide you through every stage of the process, getting you on the right footing to ensure you have the best chance of success.

In this comprehensive guide, we’ll walk you through the essential considerations when starting a business in the UK, and how our expertise can help bring your vision to life.

Choosing your business structure

Deciding on the right structure is essential when you’re launching a business. Whether you’re leaning towards operating as a sole trader, establishing a partnership or forming a limited company or LLP, each choice comes with its specific legal implications and requirements. We’re here to help you weigh up the pros and cons so you can make an informed decision that aligns with your business vision and goals.

• Sole trader: This straightforward structure means you’re the sole owner, blending simplicity with complete control. However, it also means bearing personal liability for any debts or legal issues.
• Partnership: If your business venture involves collaboration with other people, a partnership might be the route for you. It’s essential to have a clear partnership agreement in place to outline each party’s responsibilities, profit share, and liabilities; otherwise, these will be dictated by statute, which is unlikely to be desirable.
• LLP: This type of entity has similar legal benefits and obligations, but each member is taxed as an individual, so more in keeping with a partnership or sole trader
• Limited company: Operating as a separate legal entity, a limited company offers protection for your personal assets against business debts. It demands more in terms of administrative responsibilities and financial reporting, yet it provides a structured framework for ownership and profit distribution.
• Registering your business: Depending on your chosen structure, registration varies. We can assist you with registering as a sole trader, or with Companies House for a limited company setup, making sure you’re compliant from the get-go.

Employment Law

Planning to hire? Familiarising yourself with employment law is a must. From drafting contracts to understanding the rights of your employees and your obligations as an employer, we offer expert advice and support, ensuring your business is both compliant and a great place to work. There are many proposed changes to employment law set for 2024, and you can see our expert insight here:

Paternity Leave Changes

New Working Time Regulations

April Law Change Round-Up

Data protection

In today’s digital age, adhering to data protection laws is also very important, particularly as data breaches can lead to significant fines and reputational damage. Our expertise in GDPR and UK data protection laws means we can help you implement robust policies and practices to protect personal data, fostering trust with your customers and employees.

Internal legal documents

Developing internal legal documents such as shareholder agreements, service contracts, and employee handbooks is also required for legal protection and clarity. However, these are not easy to write, and it can be easy to miss crucial components. As a result, we’re here to craft these essential documents with you, tailored to your business needs.

Intellectual property

Protecting your Intellectual Property (IP) means protecting your work, art, brand or innovations. There are different means of protection, including copyright, trademarks and patents. Acquiring these protections can be complex, and defending them is more so. Our IP solicitors can advise you on the nature of your IP, help you acquire the correct protections, and help you defend against infringements.

Business property

The likelihood is, that if you’re starting a business, you’ll need somewhere to put it. Whether that’s office space, a shop front, or a warehouse, our commercial property team can help you find and secure the perfect location.

Conclusion

Launching a business in the UK comes with a varied set of legal challenges and requirements. At Slater Heelis, we’re dedicated to guiding you through every legal aspect of starting your business with world-class expertise and client care. With our support, you can navigate the legal landscape with confidence, focusing on what you do best — growing your business.

If you’d like to speak to one of our specialists, fill out our contact form or give us a call at 0330 111 3131. Let’s embark on this journey together, ensuring your business is set up for success from day one.

This article was first published on the Slater Heelis website

Further reading

• Buying your first commercial property
• Eight key stages in buying a house