Opportunity In A Crisis – Business Start-Up Package

5 May, 2020 | Bret Gower

For many the impact of the Covid-19 crisis will be life-changing. It goes far beyond their inability to revert to ‘normal’ life once the Alert Level restrictions were lifted.

Redundancy or reduced works hours for some will mean deciding to go their own way, starting that business they always wanted or even simply going into business doing what they already do, but on their own account. Others will clearly see the changing world as a unique opportunity to take advantage of new ways of doing things.

The impact of Covid-19 created difficulties for almost all businesses. Predictions of a global recession are common, however there will also be many factors that will encourage some new business-owners to get started.

Interest rates are at record low levels and predicted to remain that way for some time, meaning business finance will likely never be cheaper. Employment rates after the first lock-down were low, meaning finding good people was easier – whereas now many industry types are struggling to find talent.

On a global scale, New Zealand is considered to be one of the simplest and most non-corrupt places to start a business. There are very few legal requirements to getting started, and many of them are able to be performed by the owners themselves.

We always recommend business start-ups align themselves with a team of business professionals from day one– including an experienced commercial lawyer, business banker and an accountant or firm of accountants.  This will enable you to have the necessary structures in place, will help protect your investment and goes a long way to ensuring the success of your new business.

Advice from your combined legal and financial team gives you a solid foundation, and we all work closely together when dealing with your tax or any borrowing requirements. We work regularly with a number of firms and can refer some options to you if necessary.

There are a range of questions business owners starting up should consider, we set out the five most important factors to consider here.

 

Start-up bundle

For the rest of 2021 our commercial team is offering a fixed price business start-up bundle which includes:

• reviewing and advising on your proposed business structure;
• consulting on and drafting the necessary governance documents (either a shareholders or partnership agreement), and your business terms of trade.

 

The combined value of the package would normally be between $4,500 to $6,500 plus costs. To encourage and support those seeing opportunity in a crisis we are offering the package for $3,500 plus GST, office expenses and disbursements (if any).

Add lease negotiation: $850 to $1,000

Add employment agreement template: $1,100 to $1,250

 

To take up our offer call any of team of experienced commercial lawyers at Smith and Partners, we’re happy to have a 15 minute no-fee, obligation-free initial call to better understand your position. Call 09 836 0939 or email bret.gower@smithpartners.co.nz