Starting your business - Where legal expertise meets entrepreneurial dreams!
The legal pillars of a successful business purchase
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your will-based estate plan or your trust-based estate and asset protection plan
and why it’s essential to have legal expertise you can trust
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Company formation
Our fixed fee company formation package costs $600 including GST .
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Limited Partnership
Our fixed fee Limited Partnership package costs $1,781.90 including GST.
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Partnership agreement
Our fixed fee Partnership Agreement package costs $1,500 including GST.
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Business purchase
Legal services for your business purchase
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Business sale
Legal services for your business sale
Step 1: The Serious Stuff
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Choosing the right legal structure for your business is crucial, as it will have implications for your legal and financial obligations. Common legal structures in New Zealand include sole traders, partnerships, limited partnerships, companies, and trusts. Each structure has its own advantages and disadvantages, so it's important to carefully consider your options before making a decision. Seek advice from a lawyer or accountant to ensure you make the best decision for your business.
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Registering your business is essential to ensure that it's legally recognized and protected. In New Zealand, you'll need to register for a New Zealand Business Number (NZBN), register for Goods and Services Tax (GST) if applicable, and get an Inland Revenue Department (IRD) number for your business. There may also be industry-specific regulations or licenses that you need to comply with.
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Intellectual property refers to the legal rights associated with creations of the mind, such as trademarks, patents, and copyrights. It's important to protect your intellectual property to prevent others from using or profiting from your ideas without permission. This can involve registering trademarks or patents, and taking legal action against infringers. Failure to protect your intellectual property can result in lost revenue and damage to your brand.
Step 2: The Slightly Less Serious Stuff
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Your business name is an important part of your branding and marketing, so it's worth putting some thought into it. Make sure it's easy to pronounce and spell and avoid using puns that may not translate well. Check on the Companies Office website to see if your chosen name is available for registration, and check that domain name registration is possible, before finalising it.
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Insurance can provide financial protection for your business in the event of accidents, damage, or legal issues. There are a range of insurance options to consider, such as public liability insurance, professional indemnity insurance, and business insurance. Research your options carefully and consider seeking advice from a licensed insurance broker.
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Standing out in a crowded market is crucial for the success of your business. Identify what sets your business apart and focus on that niche. Conduct market research to understand your target audience and competitors, and use that knowledge to develop a unique selling proposition (USP) for your business.
Step 3: The Not-So-Serious Stuff
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Starting a business can be stressful, and caffeine can be a valuable tool for staying alert and focused. Find a good local coffee shop where you can get your daily caffeine fix, and consider investing in a good coffee machine for your office. Just remember to be careful with the hot water and electricity!
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Unfortunately, dealing with difficult clients is an inevitable part of running a business. Stay calm and professional when faced with challenging situations, and try to resolve issues through open communication and a willingness to find a solution. However, there may come a point when it's time to cut ties with a difficult client who is causing more harm than good to your business.
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Celebrating your successes is important for maintaining motivation and morale.
Take the time to acknowledge and reward your hard work and achievements, whether that's through a team lunch or a simple pat on the back.
Remember, running a business is hard work, so it's important to take time to appreciate the wins along the way.
Disclaimer: This article should not be relied upon for legal advice. Always seek professional legal advice before making any decisions regarding your business.