SME Legal Services FAQs

The cost of legal services for small and medium-sized enterprises (SMEs) varies, depending on the nature and complexity of the help required.  

Pricing models may include hourly rates, fixed fees for specified services, retainer agreements or buying banks of hours for ongoing support. This flexible approach aims to provide transparency and ease for our clients, alongside meeting the unique needs and financial capabilities of SMEs.

Hiring a law firm can be pivotal to the efficiency and success of many SME businesses. We’ve outlined some of the main reasons below. 

• Growth and Change: Legal guidance is crucial during growth phases, especially when exploring new markets, products, or partnerships.
• Productivity: For those who aren’t knowledgeable about employment law or legal proceedings, a DIY approach can be highly time-consuming and take time away from other important tasks.
• Risk Management:  Legal matters require specialised knowledge, and DIY approaches can lead to inefficiencies, and increase legal risk if incorrect. 
• Cost Efficiency: Early investment in legal services can prevent future costs associated with reduced productivity, slow decision-making, and unnecessary risks.

Setting up a business involves strategic considerations, often discussed among business owners, their lawyers, and accountants. At Farringford Legal we can assist in this, and create a smoother, less stressful process. 

Critical questions that may arise whilst setting up a small business include the business's nature, involved parties, expectations from customers or suppliers, relevant risks, tax strategy, and funding methods. 

Business structure options include sole trader, partnership, or corporation. While a sole trader might be the simplest, the best option depends on individual circumstances. 

We can help with and advise on these areas. It’s important to remember that early, informed decisions can lead to significant long-term benefits.

ESG stands for Environmental, Social, and Governance. It encompasses a set of standards and regulations promoting sustainable and responsible business practices, reflecting a commitment to ethical operations, environmental stewardship, and social responsibility.

If you’re unsure about ESG strategy, you can contact our team for more information. This is an area of business we frequently help SMEs navigate. 

Essential legal documents for an SME include:

• Formation Documents: Establish your business's legal structure.
• Terms and Conditions: Define the framework for offering goods or services.
• Contracts: Formalize agreements with customers and suppliers.
• Investment Agreements: Specify terms for external investments.

We can assist with creating, editing and distributing these documents for your SME. If this is an area of business you require legal help with, please get in touch for more information. 

Our team is passionate and knowledgeable about the legal landscape surrounding SMEs, and our approach is specialised in providing the best legal services possible for small and medium businesses. 

Some of the main advantages can include: 

• Cost: Legal expenses are generally lower.
• Service Level: Access to experienced lawyers providing personalised service.
• Relationship: SME-focused firms prioritise strong client relationships, essential for businesses not served by the financial models of larger city firms.

A contract review can serve multiple purposes. It may involve scrutinising a specific contract for potential issues, or it might mean organising and analysing multiple contracts to manage risk or streamline business processes. 

Contract reviews are essential for safeguarding business interests, whether assessing the legality of a single contract or managing a portfolio.

This is an area we can help with if you feel unsure or uncertain. 

When you’re looking to expand and grow your business, you need the following things: money, time, customers, suppliers, knowledge, organisation, execution.

A law firm, like Farringford Legal, provides all of these things (except the money!). We can support business growth by providing specialised legal knowledge and strategic advice.

Our extensive experience across various sectors means we can offer insights and solutions to organise processes, mitigate risks, and save resources. As we have built up an extensive network of businesses, suppliers, investors, and other advisors, we can also quickly connect you with key people to help drive your business forward.

The services we offer can give you the confidence, time and headspace to fuel growth.

We aim for maximum accessibility, allowing you to contact us as needed, within our availability constraints. 

Our commitment is to support your business while respecting the value of time. Our goal is to ensure that you feel supported and informed at every step, recognising the dynamic nature of business and legal needs. 

Yes, we understand the importance of flexibility and are available for urgent legal advice over the weekend. We recognise that many SME business owners use their weekends to reflect on work, strategy, or decision-making - so we strive to accommodate your schedule. 

Depending on your needs, you may work with one or multiple specialists. Regardless, you will always have a primary contact person who is knowledgeable about your business, projects, and needs to ensure seamless communication and organisation across different legal areas.

In addition to our lawyers we have a team of business consultants who's knowledge we weave into our legal expertise to give you a full service. These services are tax consultancy, intellectual property advice, data protection services and outsourced HR.