Assisting the regions SME power houses

It is an unquestionable fact that the revival of the UK economy will be dependent upon the success of our SMEs.  East Anglia boasts a higher percentage of SME businesses than other parts of the country, and the lawyers at Birkett Long LLP have been encouraged to see their SME clients push forward growth plans. 

The firm has provided a variety of legal assistance, indicating the SME’s entrepreneurial spirit and suggesting that even in the face of a pessimistic economy they are finding routes to grow, either organically or through export, import, acquisition or franchise.  However, one thing is clear - SMEs recognise the value of a trusted legal advisor.

A number of Birkett Long’s clients have identified innovative products ripe for the UK market, in particular related to green energy or alternative heating, and have secured exclusive distribution rights.  They have required advice such as reviewing distribution agreements (ensuring their investment in marketing these products is protected) and preparing or reviewing business and consumer terms of sale to ensure that obligations under distribution agreements are reflected in their terms, avoiding disparity and unforeseen liabilities.

SMEs continue to recognise the opportunities provided by franchising as a way of expanding and gaining brand recognition without the resources that would be required for owner managed expansion.  These businesses often need guidance on the franchise model and documentation if their brand is to be protected and managed successfully.

Growth is sometimes borne out of a business restructure, which enables shareholders or partners to move on and allows the remaining owners to explore other business directions, perhaps with risks greater than those leaving were prepared to accept.  Legal advisers that understand the business can facilitate such restructures and help their clients avoid pitfalls.

Birkett Long has created flexible services to meet new demands from SME clients, which, like all businesses, face a challenging economic environment.  A menu of choices allows clients to select the level of legal involvement they require, thus reducing costs.  For some clients, capped or fixed fee structures provide more certainty to the legal spend of their business, whereas others may be well served by basic agreements at a lower price - such as a shareholder agreement.

The protection such agreements offer and the commercial benefits that stem from a close relationship between business owner and lawyer cannot be under-estimated.  Getting that specialist lawyer on side should be part of every SME’s strategy for growth.