The UK is undoubtedly a good place to launch innovative technology. The UK has a goal to transform into a tech superpower by 2030 and is developing international partnerships across academia, government and industry to make this happen.  The UK is already ranked fourth in the Global Innovation Index for 2022 and ranked 12th in the 2022 Network Readiness Index, and it is renowned for a thriving tech ecosystem.   The “Flip Up”  This is why the UK has become an attractive option for foreign based tech startups to move their business to the UK via a “flip up”.  Flipping…

Crowdfunding has become an increasingly popular form of funding for entrepreneurs with a good business plan, or early stage companies looking to take their business to the next stage of its development. In the UK, crowdfunding is well established and regulated by the Financial Conduct Authority (FCA). In this article, we will explore the landscape, and look at the pros and cons of using crowdfunding as a financial tool for a business starting out, or growing. What is crowdfunding? Crowdfunding is a way of raising money through the collection of contributions from investors through a crowdfunding platform. Examples include Indiegogo,…

With predictable revenue streams, it is understandable why a subscription business is attractive. Recent years have seen the launch of various innovations, such as monthly recipe boxes, coffee pods or health products, with numerous digital apps adding to established subscription services such as magazines or a wine club. Online trading platforms, such as Shopify or Kofi, make it easy to set up a new business and the subscription model has taken on new life, but there is a web of legal considerations that businesses need to comply with. As yet, there is no prescribed ‘subscription law’ but this area of…

February’s cabinet reshuffle saw the creation of a new Department for Science, Innovation and Technology (DSIT), headed up by Michelle Donelan. The new Secretary of State says the department will promote growth, encourage the creation of new jobs and bolster innovation.   For the first time, the five technologies of tomorrow: quantum, AI, engineering biology, semiconductors and telecoms, will be brought together under one umbrella department. Also included within its remit will be life sciences and green technologies.   But what exactly does it mean for UK startups and scaleups operating or planning to operate within the sector?   Big hopes for…

Whilst there are many pros that social media can create for a business it is not without its cons. As the internet continues to grow at a rate that the law has failed to keep up with, organisations have had to adapt to deal with a wide range of online problems. There is no ‘social media law’ you can call on to address these issues. Instead, a mix of long-established legal principles and new laws are used in a bid to address the ever-changing issues presented by social media. Problems include unfavourable reviews, account hacking, data protection breaches, fake accounts…

Today, the smartphone in your pocket is capable of more than the most advanced supercomputer available 25 years ago. In the past couple of decades, we have seen technology push boundaries further than we could ever have imagined, but more recently, this trend has exploded - innovative tech is growing at an exponential rate. What the next 50 years hold is anyone’s guess, but what we do know is that, right now, there is no shortage of funding sources for businesses developing innovative tech solutions, or even an entrepreneur with a great idea. Here, we look at some of the…

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 make it into a “more active gatekeeper”, the Home Office states. If you are in need of legal advice for…

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 wholesale, pharma and healthcare, transport and distribution. The costs were lowest in the travel and leisure industry. Lindy Cameron, National…

Regulation in the spotlight as UK emerges as a leader in the emergence of fintech, crypto-companies and Distributed Ledger Technology

UK announce Online Safety Bill which could lead to tough penalties on tech and social media chiefs