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When the New York Times purchased the free to play word game Wordle for a seven figure sum, eyebrows were raised. How could a new game that has never generated an income be worth so much? The New York Times purchased it as a method of potentially boosting subscription numbers which will increase revenue. No one knows if the strategy will pay off but The New York Times were aware of this and prepared to take the risk! There are…

The appointment of Rishi Sunak as Prime Minister is likely to boost the passage through Parliament of wide ranging legislation on crypto assets. Mr Sunak was among the architects of amendments to the Financial Services and Markets Act 2000 with regard to cryptocurrency. The amendments received a second reading in the House of Commons on October 24, 2022, while Mr Sunak’s appointment as the new Conservative Party leader was confirmed the following day. If you are in need of legal…

Whether or not you are starting to think about retirement, if you have any plans to sell your business in the future then there are steps that you can take to ensure that you achieve the best price for your business and to sell it on the most favourable terms. It is worth investing time and effort to ensure that your business is presented as attractively as possible before you start to market it to potential purchasers

The Government is introducing the Economic Crime and Corporate Transparency Bill as part of an upgrade of powers to Companies House, described as the organisation’s biggest upgrade in 170 years. Anyone who registers a company in the UK will need to verify their identity. The Home Office says this is necessary to tackle anyone who uses companies as a “front for crime or foreign kleptocrats”. Companies House will be given new powers to check and challenge information in a bid to…

New rules are planned in the UK to support the need to speed up the development of offshore wind farms. The Government has unveiled a new Offshore Wind Environmental Improvement Package (OWEIP) to help to reduce the time taken in the planning process for proposed developments. It can currently take around four years to gain consent and the new process aims to reduce this to around 12 months. The OWEIP is designed to strengthen commitments in the Government’s British Energy Security Strategy (BESS). Published…

You may need finance for your business to fund growth projects, maybe to fund the purchase of plant and equipment, diversification, or expansion.  Maybe the need to raise finance is to complete a management buy-out, to acquire a competitor or a complementary business, to purchase a freehold or leasehold commercial property, or to invest in a new corporate project. Whatever the reason you need to consider the finance options open to you and their potential pros and cons.  The devil…

A former Government Minister has suggested plans to diverge from European Union data protection rules may be ditched, adding that such a move could result in the UK being no longer seen as a trusted partner in the field of data security and could cost businesses money. Lord Kirkhope says the change of Conservative Party leader, and by extension Prime Minister, offer an opportunity to pause post-Brexit divergence plans. The new Data Protection and Digital Information Bill puts forward a…

With cybersecurity attacks on the rise, the National Cyber Security Centre and the Information Commissioner’s Office is stepping up a campaign advising companies not to give in to ransomware requests. As of 2021, the average cost of a cyber incident to organisations in the UK was highest in the energy sector, with a median cost of 35,439 U.S. dollars per cyber event (Source: Statista). Other business sectors where the impact cost of a data breach are high, include financial services, retail and…

Could a business angel be the answer to your startup business prayers?  Early-stage businesses are generally in need of funding to bring an idea to market but sometimes funding alone is not enough to help them thrive, especially when expertise is critical to success. A business angel could be a good solution to explore and consider because they can provide both expertise and finance.   What is a business angel?  Probably the most known business angels are those that sit…

Starting any new business comes with a steep learning curve, especially as a founder when you often find yourself wearing all the management hats. This is why it is important to deal with the core legal issues early, so that when the time comes to scale up, your business is ready and in good shape to expand