5 common mistakes that could kill your business before you've even started

common mistakes that could kill your business

BEFORE YOU’VE EVEN STARTED

5

1SHAREHOLDERS

AGREEMENT

Even if you’re great friends with your founders...

... it’s a pretty bad idea not to have a shareholders agreement!

Having a solid agreement may save those friendships

later down the line...

You never know what may happen!

2EMPLOYMENT

GUIDELINES

Outline what you expect from your staff and the procedures for any disciplinary action...

If you don’t have one in place there will be nothing to fall back on in case of a dispute.

3DOING EVERYTHING

YOURSELF

Don’t do it!!!

Founders and CEO’s often get bogged down

minutiae...

...when they should be focussing on the

big picture.

This can be dangerous in so many ways as...

They cobble together documentation drawn from internet research or free templates

that is not legally sound

They become disillusioned because they’re

not doing what they’re good at

They become worried they’re not doing the admin correctly

Using experts doesn’t have to be expensive

You should use people that know what they’re doing to ensure you don’t have to worry.

We use Geniac, who do everything from accounting to legal compliance

so you can focus on what you’re good at...

Find out more

Growing your business!

4UNAWARE OF LEGAL

OBLIGATIONS

Terms and Conditions or Private Policies on websites

are often not done well!

Depending on your business, if you store

data of any kind...

...you need to be registered with...

the Information Commissioner’s Office or this could void your cyber liability insurance and put you in breach of

the Data Protection Act.

5NOT GETTING INSURANCE

Finally, if you don’t sort out insurance...

this means that any accident in the workplace or during

activities carried out for work,

is not covered

Workplace accidents may be the last thing on your mind,

but for just a small fee a month you can

get this covered

Taking care of the small things, or the ”boring” parts of your business are

hugely important

and will have a lasting impact on your company

You don’t need to do these things yourselves, or hire more people into

your company

Use experts instead

and concentrate on the reason you started up

in the first place

Find out more