The stats against Startups aren’t for the faint-hearted. Whether you’ve got the edge in a highly competitive industry, you’re solving a problem that you’re passionate about, escaping the 9-5, or simply chasing more spending money, getting your Startup up and running is no easy feat. This is why we’ve compiled a list of four essential areas to hone in on to beat the grim odds.
1. Structuring your Sydney startup
There are a lot of tough business decisions to be made in the early days of a Startup. So, before you embark on the trip of a lifetime, it’s worth consulting with experts. A specialist business law firm like H+A Legal, will protect you and help you grow the business of your dreams. Firstly, we’ll help you choose the most suitable business structure. Secondly, we’ll review and draft any relevant agreements, and establish a trust or employee share scheme. Plus, as you progress, you can be sure that all your legal bases are covered and that you’ve reduced all future risks.
2. Capital Raising
Along the exhilarating journey that lies ahead, you’re bound to run into a few obstacles. Some of these obstacles may require some additional capital to navigate. Whether these unexpected expenses become the nail in your Startup coffin will depend on:
- the size of the obstacle,
- the upfront cost associated with it,
- the type of business you start.
Start with a business plan that helps you choose the best funding option for your business. Next, call a specialist business law firm to chat about all things funding. An experienced business lawyer will guide you through the rough landscape of obtaining capital from private investments, friends and even crowdfunding. We will also:
- understand your business,
- draft and review shareholders agreements, subscription agreements and term sheets,
- advise on how to obtain corporate governance.
3. Employee share schemes
Taking a few friends along for the ride? If you’re planning on having company for this expedition, let’s ensure it’s a pleasant journey. An Employee Share Scheme allows you to offer your employees shares or other equity interests in your company. This kind of scheme can help you align business and employee interests that results in:
- greater retention and attraction,
- flexible remuneration packages, and
- boosted productivity.
4. Your confidence
It’s a wild ride ahead, and your startup’s confidence is key to your success. Our mission at H+A Legal is to empower you to achieve your goals. So, whatever resources you need along the way, we’re right behind you. Get in touch with our legal team to see how we can help propel your Sydney startup to new heights.