The government has announced a range of proposals to encourage innovation and to help businesses grow, but the changes could also see firms facing more competition from former employees. One of the proposals aims to prevent red tape from stifling entrepreneurship. This would involve removing or reducing the effectiveness of non-compete clauses in employment contracts.
Restrictive covenants are a useful way to protect your business from competition from employees who may leave to join a rival company. They work in various ways such as preventing an employee from competing with your business for a set period or within a set area, or by preventing them approaching your clients for a
Employers no longer have to make National Insurance contributions for apprentices under the age of 25. The change came into effect on 6 April and applies to both new and current apprenticeships. It will produce a saving of about £1,000 a year when employing an apprentice earning £16,000 a year. The government says it is
An accountancy firm has been granted a restraining order against a former employee who had persistently brought spurious legal claims that were bound to fail. The case involved a woman who worked for the firm for two years before resigning in 2006. She then brought five employment law claims, 10 money claims plus claims against
Entrepreneurs can be very confident about how to build up a business but then become surprisingly unsure about how to hand it over to the next generation. This can lead to problems because there are several issues to consider. For example, will family members be able to take over…will you need to hand over to
Estate agents have been warned that they could be breaking the law if they reach agreement with rival firms about which websites to use for property listings. The Competition and Markets Authority (CMA) has contacted some agents it suspects may already be in breach and has written an open letter to alert others to the
Companies in the UK must now have a register of ‘People with Significant Control’ to provide greater transparency for consumers and other businesses. The register should include basic information about who owns or controls the company, including their name, month and year of birth, nationality, and details of their interest in the business. A person
The government has pledged to reduce red tape and save British businesses £10 billion by 2020. It says this follows the £10 billion savings already implemented between 2010 and 2015. The latest planned cuts were announced by Business Secretary Sajid Javid. He said: “Hundreds of businesses responded to our Cutting Red Tape reviews and we
An estate agency has been granted a court injunction to help it protect its business against competition from a former director. The case involved a director who had worked for the agency since 2000. In 2013, he was granted shares on condition that he entered into a non-solicitation and non-dealing covenant. The key part of
1. Fail to prepare – prepare to fail! It may be necessary to undertake a pre-sale business review well in advance of your proposed sale date with the help of an experienced corporate finance adviser and implement necessary changes. You must be prepared to invest time and money at the outset which will help