New Business Owners are Keeping Commercial Solicitors Busy
England 12/08/2013 - During 2012/13, 451,700 new Ltd companies were registered in the UK, many of which have needed the services of a commercial solicitor.
The huge increase in the number of new companies being set up in UK has generated quite a bit of additional work for legal firms who already provide services to the commercial sector. Many commercial solicitors report being just as busy now as they were before the recession.
New firms are turning to solicitors to help them with things like commercial contracts, supply agreements, joint venture partnerships and the drawing up of terms and conditions.
A significant percentage of these new companies are being set up by franchisees. Therefore, another area of growth has been the analysis and drawing up franchise agreements.
There is also increasing demand for legal services relating to the purchase of commercial property. After a quiet period, firms are once again looking for new premises, which is resulting in more conveyancing and lease contract related work.
Existing businesses are also providing more work
However, not just new businesses have an increasing need for the services of commercial solicitors. Many older businesses are finally seeing an increase in demand. This means that they needhelp with drawing up new manufacturing agreements, sponsorship agreements, commercial contracts and supply agreements.
Unfortunately, both new and more established firms are also increasingly asking for help with debt recovery. The current economic climate has given many UK-based businesses cash flow issues, which is leading to an increase in the late payment of debts.
The team at Kirwans Solicitors has seen significant growth within the commercial sector, and have been recruiting staff to deal with this new demand. In addition, they have decided to provide extra support for people who are setting up new businesses in the Liverpool area. They recently launched the networking group Mums in Business, which uses seminars and meetings to provide support and practical advice for mums who are returning to work or setting up a new business. In areas like Liverpool, growth in business activity has been going on for several months, leading many to believe that the city is emerging from the recession and that this will be a period of sustained growth rather than just a blip.
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