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Middlesbrough Mayor Andy Preston announced a £45 million pound investment into the digital and creative sector. This will kick-start a wider £250 million pound development creating the UK’s first Digital City. As the news breaks, we speak to our in-house technology expert and partner within our corporate and commercial team, Martin McKinnell about why it is important for businesses to select a legal team with similar ambitions.
Martin said: “Going it alone is a huge step to take and an exciting one at that. Mayor of Middlesbrough Andy Preston has this week announced ambitious plans to provide much-needed resources and infrastructure to the creative and digital sector in Middlesbrough. This will encourage new start-ups into a fast-growing industry.
“Whether you’re a budding entrepreneur or an ideas-driven start-up, knowing where to go for sound legal advice can be a difficult task. Finding a legal firm that you completely trust with your new venture can be daunting, they need to understand your business as it is now, as well your growth goals and any potential issues that could arise in the future. But, how do you ensure you get the best expertise in the early days when cash flow is limited?
He added: “Most business owners aren’t thinking about future legal issues when setting up their dream but getting it right at the beginning stands them in good stead for the problems and challenges that lie ahead. Finding a specialist to advise you on the best legal decisions will not only protect your business from any risks but save you money in the long run.”
The Endeavour Partnership is home to a large and highly skilled corporate and commercial team, the largest between Leeds and Newcastle. Working closely with Digital City and many other tech businesses within the region, the team has a wealth of experience when dealing with fast-growing organisations.
The Telegraph recently reported that 660,000 new companies are registered in the UK every year, with 60 percent of those new businesses folding within three years, and 20 percent will close their doors within just 12 months.
Martin continued: “These statistics are worrying and make finding the right support for your business crucial. With the exciting news from Andy Preston this week and the commitment from businesses within the region to drive the idea, we are hoping to buck that national trend within the Tees Valley”.
The UK’s tech sector is growing almost three times faster than the rest of the economy and Martin urges businesses to choose carefully when considering which legal team should support them.
“Do your research! It is good to know the legal team you choose have experience within your industry and the capacity to stay with you as you grow. You don’t want to waste time investing in a legal team to find you outgrow them and they are unable to handle some of the bigger requirements as you scale up.”
As the largest business law firm in the Tees Valley, our clients benefit from our respected and well-known team, specialist departments and multiple layers of expertise, ensuring confidence in our ability to deliver for them. We know how important trusted and accurate support can be to allow our clients to remain focussed on running their business.
Our expertise in all aspects of business law and our growing team of specialists means we offer a genuine focus on commercial legal solutions, to provide specialist business support which goes beyond static legal advice. As the world of business evolves, our team are committed to exploring and staying ahead of the curve. A dynamic personal approach, blended with our depth of business expertise, ensures that we offer our clients a high level of insight and commercially valuable solutions.
Whether start-up, SME or large corporate, our client’s business is as important to us as it is to them, and we pride ourselves on understanding each individual business model, the objectives behind it and the owner’s aspirations. Our commitment to business law along with our dedication to our clients throughout their business growth, allows us to proactively instruct and advise our clients whilst they concentrate on running their business.
If you would like to speak to Martin or one of our corporate and commercial specialists, please call us on 01642 610300 or email Martin at m.mckinnell@endeavour.law .
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