Monthly Archives: December 2020

Hot Business News Today

8 legal considerations for setting up a business during the pandemic

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Originally written by Nick Owens on Small Business
Record numbers of new businesses are setting up amid the Covid-19 pandemic as entrepreneurs show a determination to work their way out of the financial crisis.
The stories behind many of those newly formed businesses is revealed in a special report, Starting A Business In A Pandemic, published by Harper James Solicitors. Here the national law firm, designed to support new businesses from start-up to scale-up, share eight legal considerations that every entrepreneur should be aware of.
1. Founders Agreement
You and your co-founders may start out as best friends, but nothing can sour a relationship more quickly than differences about business.
A founders’ agreement will clearly set out all the answers to essential questions such as: what is the company’s mission and what is your ultimate goal? What are the roles and responsibilities of each team member? And how will equity be owned and when will shares vest?  As businesses grow, the formalities tend to multiply and having a clear founders’ agreement will make these formalities easier (and cheaper) to complete.
2. Shareholder and investor agreements
Setting up a shareholders’ agreement can help take your start-up to the next stage. If you are funding your start-up yourself, then

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Hot Business News Today

Extra cash for ‘wet’ pubs hit by Tier 2 and 3 lockdown

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Originally written by Timothy Adler on Small Business
UPDATED: Prime Minister Boris Johnson has said there will be a one-off payment in December of £1,000 to “wet” pubs in England – pubs which do not serve food – which are having to close in Tiers 2 and 3.
The Prime Minister made the pledge as part of his opening statement in today’s House of Commons debate on the incoming tier system, which is due to come into effect throughout England from tomorrow.
Mr Johnson said the one-off £1,000 payment recognised how hard pubs have been hit in what is normally “their busiest month”.
However, the Federation of Small Businesses dismissed the gesture, pointing out that £1,000 will cover the cost of a single keg of beer.
The government’s new tiered coronavirus system will slash income for pubs and restaurants, 98 per cent of which will either be in Tier 2 or Tier 3, in half meaning £7.8bn in lost incomes, according to trade body UKHospitality.
>See also: Non-essential retail and gyms to reopen next month under new tier rules
The new tiered system, which has been described as a death knell for thousands of pubs and restaurants, requires all premises in Tier 3 to offer only takeaway

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