When you are considering starting a new business, there are many things you need to consider to ensure you have the best possible start.
Considering it is estimated that 80% of new businesses fail within the first year it is crucial you put everything in place that is designed to help you succeed.
Whilst for many entrepreneurs the task of getting terms and conditions in place may not be high up on their ‘to do list’ it is a must to ensure healthy cashflow and minimising any disputes. Not being paid on time or finding yourself in a lengthy argument can literally be the difference between make and break of your new business.
You shouldn’t even consider doing business without terms and conditions, furthermore those terms and conditions should be bespoke to you, your business and your processes. When no terms have been applied to the contract, or ineffective terms (such as templates) have been used, many problems can arise.
Daily, we come across businesses who have tried to cut corners by copying other businesses terms and conditions, or worse still, cobbled together different terms and conditions they have found sprawled across the internet or stolen from previous suppliers, employers or competitors. Some start-ups have paid a small amount for similar templates that are not bespoke to their business and usually it is only when something goes wrong it is highlighted that they just do not protect them, often that can be when it is too late. Taking an unnecessary chance on DIY terms and conditions could put your business at serious risk.
The cost of having terms and conditions written with your business in mind can be an off-putting factor. We have heard of quotes ranging from £1,000.00 to £5,000.00 and not surprisingly these prices are often out of any start-up business price range.
At BEB we offer a fixed price service with discounts for those businesses in their first 6 months of trade too. Better still, we don’t charge for just a conversation.
Contact us to arrange your no obligation consultation.