Starting a new business is a time of immense excitement. Whether someone is an entrepreneur with a great idea or a creative with an outpouring of gifts to share, the rush of the new is the same. There’s an office, shop or workshop to find, staff to hire, branding to create and the official launch party to organise. However, despite this initial rush of excitement, many business owners will at some point have to face the sad fact that their enterprise has come to an end. After five years of trading, 4 in 10 small businesses close.
While there are many reasons why this is the case, any business that needs a premises would be wise to consult a commercial lease solicitor in Londonto help stave off the march towards closure. Firms in the capital such as Saracens Solicitors can help new businesses make the best start possible with a lease that protects their interests.
It’s tempting for the new business owner to cut corners and try and do as much of the administration and legal work themselves as they can. But when it comes to negotiating a lease, it can be a false economy.
Commercial leases can run to 50 pages long. The fledgling entrepreneur will no doubt be working long hours, taking on all kinds of different tasks and be seriously stretched on the way to their grand opening. Wading through a lease, possibly late at night, could be a recipe disaster. Without the benefit of an expert eye, it’s so easy to miss a little detail, or forget to ask for an extra clause that secures the future of the business. It’s not an exaggeration to say that firms have gone under due to poorly drafted commercial leases.
Getting the advice of a commercial lease solicitor in London means the business owner can rest easy, now, and for years to come. They know that the future of the physical location of their company is secure, at least for the terms of the contract.
It’s something that it’s really not worth cutting corners on. It could mean the difference between success and failure.