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Double Trouble - Navigating start-ups through a pandemic and recession

Insights / 27-10-2020

An entrepreneur wanting to do it alone and set up his or her own company would find it challenging at the best of times. Starting a business during a pandemic and a recession therefore will not be for the faint hearted.  

Historically, a number of companies such as General Motors, Burger King, CNN and more recently Uber and Airbnb started their enterprises during a recession.  Evidence that new businesses can flourish whatever the date of their incorporation!

We understand that when a business is setting up, costs are tight but asking for advice, whether it be from lawyers, accountants or tax advisers at the outset should help navigate some potential pitfalls.  For example, advisers will be able to ensure that:

  • The business structure reduces any exposure to personal liability;
  • The business is set up in a tax efficient manner;
  • The business enters into contracts with third parties on favourable terms; and
  • The business protects its intellectual property rights both on creation and disclosure.

Failure to do so, could be costly to a start-up business.

In an aid to help new business in these uncertain times, we have prepared a free start-up pack which contains some useful guidance. The purpose of these information sheets is to highlight what actions to undertake and key issues to consider so that businesses have the correct legal framework and protection from the outset.  This will ensure that your start-up business has every chance of success.

Our colleagues would be delighted to help you with any queries:

If you would like any advice on your start-up business, please contact Theresa Grech on theresagrech@incegd.com; or

If you would like us to set up a company for you, please contact Mel Kincaid on MelanieKincaid@incegd.com.

To download our free legal start-up pack, please complete your details here.

startups

Theresa Grech

Theresa Grech Partner, Head of Corporate

Melanie Kincaid

Melanie Kincaid Head of Corporate Support Services