Why startups fail

Many startups fail because they build a product without doing proper market research.

This can range from not getting the product right to not marketing it properly in terms of price position and competition.

It may also just be that the timing of the product launch is wrong with the market not quite being ready for your product.

Your market size could just be too small, which means you simply won’t make the revenue.

Legal mistakes

From neglecting the basics to the business structure there are numerous legal pitfalls for startups in the UK.

Crestlegal.com provides commercial legal services for businesses in the UK. They stress the importance of getting the right contracts and documents in place from the outset as well as seeking impartial legal advice.

A big factor that people often neglect is partnerships. There is a difference between trusting the people you were going into business with at the start of a project, compared with a few months or even years in. 

Boardroom disputes happen and things can escalate quickly, so having the right partnership agreements in place is essential from the start of the venture.

Businesses also need legal advice on structuring and setting up a business as well as common issues such as

  • Protecting your personal assets as well as the know how and ideas 
  • Legal documentation for hiring employees and creating the relevant contracts 
  • Getting funding
  • Creating business to business contracts with suppliers

There may also be legal issues with developing an idea or product. This might include legal challenges from bigger businesses who see you as competition.

Business model

The business model you choose allows you to to find a scalable way to get new customers and also to monetize customers that are existing.

Customers have a lifetime value and the cost of acquiring them must be significantly lower than their lifetime value.

The managers and founders

Common problem causing startups to fail is the strength of the management team and founding members. A weak management team can lead to a poor culture and also poor strategy going forward.

Partners and founders may also fall out or want to take the business in a different direction.

Cash flow problems

This one is kind of a biggy. Reducing expenses at the start of the Venture as much as possible can really help with cash flow, however raising cash is a big challenge for startups.

Finding the right investors and deciding on who they are and the amount that you need is a big factor in raising cash for a startups. Disharmony amongst investors could mean the money is pulled out or the investment withdrawn.

Marketing

Some call it witchcraft or some call it a vital part of your strategy. Leaving your marketing to the wrong people or investing the wrong amount can have a dramatic impact on the growth of your business. Marketing also plays a pivotal role in getting to know your audience and how to get there and attention. Ultimately marketing helps you grow your customer base.

According to growthgorilla.co.uk brand awareness plays a pivotal role in building trust in your brand positioning you as an expert and encouraging word of mouth.

For the top 20 reasons startups fail, see cbinsights.com.

What rights do UK tenants have?

All tenants renting property from private landlords have certain rights which are protected under UK law. The extent of these rights depends on the type of tenancy agreement, as well as the location of the property within the UK. But broadly speaking, the rights themselves may be subdivided into the key sections itemized below:

Condition of the property

Firstly, all tenants have the right to inhabit a property that is safe and in good condition. Usually, that means a health and safety assessment will need to be undertaken before the property is rented out. This is applicable throughout all the countries of the UK

Unreasonable disturbances

You also have the right to live in the property without frequent and unreasonable disturbances from your landlord or other external elements. As above, this is applicable everywhere in the UK.

Protecting your deposit

The deposit paid to your landlord should be retained in a centralized tenancy deposit scheme. While these vary in name depending on where you live in the UK, their basic function is the same: to keep your deposit safe. All tenancy deposit schemes are approved by the government.

Energy consumption

As a tenant, you have the right to know the level of energy consumption for the property you are renting. Wherever you are based in the UK, you can request to see an Energy Performance Certificate.

Rent increases

It also your right to challenge any proposed rent increases made by your landlord if you find them to be unfair. For instance, if the increase is out of proportion when compared to other properties in the area, and there is no specified reason for the increase, then you would be within your rights to challenge it. In such cases, your dispute would likely be taken to a tribunal. Regardless of where you live in the UK, your best bet in this situation would be to consult with your local Citizens’ Advice Bureau, as they will be well-equipped to guide you through the process.

Unfair eviction

You also have the right not to be unfairly evicted from a property. Typically, that means the landlord needs to provide you with sufficient notice and, in some cases, a specific reason for the eviction.

While your rights as a tenant are considerably different at a technical level depending on where you are in the UK, all of the above key areas are covered. If you are in doubt, your first recourse should be to the Citizens’ Advice Bureau for further guidance.

How much does a divorce cost?

Are you thinking of getting a divorce? You undoubtedly have numerous questions, one of them is how much does divorce cost. There are several aspects to consider while contemplating divorce. Nevertheless, most people consider divorce to be an expensive undertaking. However, divorce may also be inexpensive; it all depends on the parties divorcing.

What is the average cost of a divorce?

The cost of divorce might vary depending on several things. Divorce prices vary depending on several circumstances, including whether or not a lawyer is employed, the type of the divorce lawyer, and whether or not the divorce is challenged. Divorce, from a legal standpoint, is essentially the termination of a legal contract. For the procedure to be effective, papers must be completed and filed with the court.

For any paperwork handled by the court, a fee ranging from £550 to £1,500 VAT included is charged. If you want to hire a family lawyer, you can be certain that the cost will be more than £550, since there will be other expenses to consider. Each lawyer in the United Kingdom will charge their fees based on their terms. Divorce does not have to be costly if you do not wish for it to be. You may always compare lawyers’ legal fees and find one with whom you are comfortable working.

When solicitors are engaged, the cost might be confined to £5,000 to £10,000 plus VAT. However, if the divorce discussions fail, they will have to go to court, and the money paid to the solicitors will be little. This means that divorce costs will rise. Going to court is one thing; going for arbitration is quite another. You will have to pay for someone to make the ultimate decision on all of the discussions, which everyone must be happy within the end. Arbitration can never be appealed; instead, the parties must live with the conclusions made. Divorce court expenses can range from £10,000 to £15,000 plus VAT, depending on the methods utilized.

Mediation costs on average

Mediation is significantly less expensive than the significantly more expensive process. If the thought of litigating in court frightens you, it could be a better option to opt for mediation. A mediator will assist you in reaching an agreement but will not tell you what you must do. However, before and after the mediation process, both parties should consult legal counsel. However, the cost will constantly rise, especially if one decides to hire an attorney to safeguard their interests. The fee may also vary based on whether the mediation is completed completely or whether the divorcees must go to court.

The payment of the charge

The individual who gets to apply for the divorce must pay a nonrefundable cost of £550. You can, however, obtain assistance if you are unable to pay for your divorce via the government. There is always a box on the divorce form that you may check if you want your partner to pay the divorce fees, which you will get after the divorce is complete. Divorce is not an easy thing to face, and you can only do it where you reside, not where you married.

Renting Your Family Home? Here’s how to get your deposit back

Guest blog from Natasha Batty, Principal Solicitor at Natasha Hall Law.

How to get your deposit back

If your family has an Assured Shorthold Tenancy, then you could be eligible for a “no win, no fee” claim. Your family can also claim up to three times the amount of your original deposit. This applies to any form of family home accommodation from a private landlord.

At the start of your tenancy, once you legally hand over your deposit to your landlord, they have 30 days to put your deposit to one of the three authorised deposit protection schemes.

The purpose of these government-approved tenancy deposit schemes is to make sure that you get your deposit back, only if your family:

  • Meets the terms of your tenancy agreement.
  • Did not make any damages in the property.
  • Paid the necessary rent and bills.

Making a claim against a landlord

Your family is entitled to make a claim once your landlord fails to do one of the following:

  • Put your deposit to an authorised tenancy deposit protection scheme.
  • Send you any of the prescribed information within 14 days of receiving your deposit.
  • Send a written confirmation from a scheme administrator (where your deposit is being held).

Prescribed information

Prescribed information is information related to your tenancy. Your landlord is required to provide these details to your family, these are:

  • The amount of the deposit.
  • The property address.
  • The contact details of the scheme administrator (where your deposit is being held).
  • Procedures relating to the tenancy deposit scheme, e.g. when should the deposit be paid or repaid to the tenant at the end of the tenancy.
  • Contact details of your landlord and any other parties who have contributed to your deposit.