With the parties past and January already well underway, it's time for business owners and managers to dive back in to ensure a brilliant 2025 - despite the challenges posed by the last Budget! It's the perfect time to give your business a legal check-up, so let Scott Bailey Solicitors talk you through the steps needed. As they say, think of it as a New Year's resolution for your company, a different kind of 'dry January'!

Read on to find out more!

Welcome to 2025: Let’s Make It a Brilliant Year for Business

We made it! Christmas is over, and it's time for business owners and managers to dive back in to ensure a brilliant 2025, despite the challenges posed by the last Budget. As we step into the new year, it's crucial to give your business a thorough legal check-up. Think of it as a New Year's resolution for your company—a different kind of “dry January.” Here are a few key areas to focus on during your legal audit this year.

1. Corporate Structure: Is Your Business Fit for Purpose?

Just like a well-tailored suit, your business structure should fit perfectly. Whether you're a sole trader, LLP, partnership, or limited company, it's essential to ensure your structure, documentation, and public records align with your current operations and future goals. If your business has grown, it might be time to consider restructuring for better liability protection and tax efficiency. Succession planning should also be a priority, whether it's a sale to a third party, a management buyout, or passing the family business down the line. It's never too early to put plans in place and spread the costs.

2. Intellectual Property: Protecting Your Crown Jewels

Your brand, products, and innovations are the crown jewels of your business. Ensuring robust intellectual property (IP) protection is essential to prevent others from cashing in on your hard work. This includes trademarks, designs, and copyrights. In today's world of AI, social media, and powerful technology, it's more important than ever to register your IP. Don't make it easy for unscrupulous third parties to benefit from your efforts. Assess what IP your business has and whether it should be documented and registered. Also, review any licences you have — written or unwritten — are royalties or other fees overdue?

3. Terms and Conditions: Are You Still Using That Template from 2010?

Contracts are the backbone of any business, but outdated or poorly drafted ones can lead to unnecessary headaches. Dust off those agreements and ask yourself:

• Are payment terms clear and enforceable?
• Have you included provisions for unforeseen events, like supply chain disruptions?
• Are your liability clauses reasonable (or even enforceable)?
• Is your business model the same as when you last reviewed the document? What has changed?
• Can you terminate or vary the terms if needed?

With inflation and economic uncertainty, ensure your terms are fair (to be commercially attractive) but also enforceable — just in case. Nobody likes an overly ambiguous contract clause (except perhaps litigation solicitors!).

4. Employment Practices: Keeping the Crew Happy

Your employees are the heart and soul of your business. Regularly reviewing your employment practices can help you stay compliant with the latest regulations and maintain a happy workforce. This includes updating employment contracts, policies, and procedures, ensuring fair hiring practices, and providing a safe working environment. Remember, a happy crew is a productive crew!

With the 2024 government budget, there are some key changes to keep in mind. The national living wage is set to increase from April 2025, in addition to the additional NI contributions. The Employment Rights Bill, introduced in October 2024, will bring additional reforms, including the end of zero-hour contracts, day-one rights for paternity, parental, and bereavement leave, and the removal of the two-year qualifying period for unfair dismissal protections. That said, it doesn’t have to be all one way traffic. Properly drawn up and implemented employment documentation can help you deal with issues like poor performance as they arise, and binding probation periods are going to be more important than ever.

5. Data Protection and Cybersecurity: Guarding the Digital Fort

In this digital age, data privacy is more important than ever. Ensuring compliance with data protection laws, such as the UK GDPR, is crucial to avoid hefty fines and maintain customer trust. When was the last time you reviewed your privacy policies? With the rise of cyber threats, implementing robust cybersecurity measures is essential. This includes regular audits of your IT systems, employee training, and having a response plan in place. Don't be the next victim of hacking or fraud due to email intercepts and lost passwords.

Looking Ahead

By focusing on these key areas and staying informed about the latest government budget and legal changes, you can ensure your business is not only compliant but also well-placed to grow in the year ahead. If you need assistance navigating these changes and ensuring your business is legally sound, don't hesitate to contact the company and commercial solicitors at Scott Bailey LLP. Here's to a successful, and legally sound, 2025!

Contact Scott Bailey LLP on (+44) 01590 66933 or by email This email address is being protected from spambots. You need JavaScript enabled to view it..

Contact Scott Bailey for a confidential initial meeting

Call- 01590 676933
Email- This email address is being protected from spambots. You need JavaScript enabled to view it.
Website- scottbailey.co.uk

Sign up for Scott Bailey's newsletter here

Find out more about Scott Bailey LLP, including opening hours and social media links.

Founded in 1930, Scott Bailey has grown to become a leading firm in the New Forest, providing a full range of legal services to private individuals and businesses. Services for individuals include Residential Conveyancing, Divorce, Family, Wills Trusts & Probate, Litigation & Disputes.

SME business legal services include Corporate, Commercial, Intellectual Property, Dispute Resolution, Landlord & Tenant, Insolvency and Employment Law. Scott Bailey LLP is one of only a very few firms based in the New Forest providing these specialist services. 

The first firm in the region to receive the Law Society's prestigious LEXCEL award for high standards of practice management and customer care, Scott Bailey LLP promises top-quality, professional help from a team of expert solicitors who will put your best interests at the heart of their work.

Scott Bailey was delighted and proud to win "Business of the Year" at the 2023 New Forest Brilliance in Business Awards - read story here.