The right business structure
‘The farm and agricultural solicitors who are ideally placed to help with starting a farm business’
Sole trader, partnership, limited company?
There are advantages and disadvantages to every legal structure available to you. We can help you assess the pros and cons to put in place the right one for you. We will also make sure the right documentation is in place to protect your interests.
In a partnership, you share ownership with one or more people and run the business together. It’s a popular and relatively simple way to manage the business. We can help draw up a partnership agreement to reflect your and your partners’ needs. If you’d like more protection in place, we can also help put together a limited liability partnership (LLP) which reduces your financial responsibility.
- Shareholder agreements
If you want to trade through a company, you will need a shareholders agreement. You’ll need to make sure your interests are protected, for instance by preventing shares being sold, or by making sure they’re transferred back to you in the future. As farm and agricultural solicitors with a long pedigree in company structures, we can carefully draft articles of association to regulate how your company operates and outline how shareholdings should function.
- Employment issues
If you’re selling your farm or contracting it out to someone else you may need to meet the TUPE Regulations. In other words, the purchaser will be obliged to employ your employees on exactly the same terms as you did. There are strict rules and time limits surrounding TUPE transfers, and we can help you make sure you comply with them.