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Impact of the Budget on Founders

Posted on: December 8th, 2025 by Alanah Lenten

Before winning the 2024 election, Rachel Reeves told the Times:

“If I become chancellor, the next Labour government is going to be the most pro-business government this country has ever seen.”

Fast forward to today. After last year’s unexpected hikes to the minimum wage and employer NICs, many owner-managed businesses (OMBs), SMEs and founders were hoping for relief in the Autumn Budget.

In the end, the Chancellor delivered a raft of small tax changes, rather than any big tax increases. But despite no increases in business taxes and a small concession on inheritance tax, it seems that the Budget offered few reasons to be cheerful:

Income Tax: The Slow Burn

There were no changes to headline rates, but the freeze on thresholds has been extended from 2028 to 2031. On paper, that sounds benign. In practice, as wages rise, more employees will drift into higher tax bands, a phenomenon known as fiscal drag. For OMBs, this means employees’ net pay will shrink over time, potentially denting morale and prompting calls for higher pay rises to offset higher tax deductions.

Businesses competing for skilled staff may may find themselves under pressure to offer higher gross salaries or enhanced benefits to remain attractive adding to payroll costs and squeezing margins.

This is not an immediate crisis, but it is a slow-moving challenge that founders should start planning for now.

Looking after your employees

The most tangible impact comes from employment costs and this is mainly bad news.

From April 2026, the National Living Wage will rise to £12.71 per hour for those over 21, while 18–20-year-olds will see an 8.5% increase to £10.85 per hour. For a full-time employee over 21, that equates to an annual salary of £24,784, around £900 more than today.

For sectors with younger workforces, such as hospitality, retail and care this will translate into significant payroll increases.

In the longer term, from April 2029, employers and employees will pay NIC on any pension contributions made via salary sacrifice above £2,000.

This change reduces flexibility in company benefits design and will require careful communication to staff. Employers who have historically passed NIC savings back to employees will need to revisit contracts and consult on changes, adding administrative burden to payroll teams.

A few silver Linings

Not all the news is bad.

The Enterprise management Incentives (EMI) scheme will also become more generous from April 2026.  Although the size of awards that can be given to individuals will not change, the size of company that will be eligible to grant awards, and the total value of awards that can be granted, will increase significantly, opening the door for later-stage and capital-intensive businesses to offer EMI options.

The implications for OMBs are that many scale-ups and later-stage growth businesses that previously failed the EMI tests (due to size or assets) can now qualify.

For founders, EMI options provide their business with a powerful tool to attract and retain talent, giving a critical advantage in a competitive labour market.  EMI options allow companies to reward key employees in the most tax efficient manner without draining valuable cash resources that are better used in growing the business.

Reeves also announced that from April 2026 SMEs will receive free training for apprentices under 25 as part of an £820m “youth guarantee” programme. This removes co-investment costs for some training and presents a major opportunity for SMEs to offset wage increases by investing in skills development. For businesses thinking long-term, apprenticeships could become a cornerstone of talent strategy.

Tax on Dividends and Passive Income

For founders who rely on dividends, or on interest on loans they have made to their businesses, the Budget brings unwelcome news. From April 2026 dividend income will attract an additional 2% tax at both basic and higher rates. A similar 2% surcharge will apply to savings and property income from April 2027.

These changes erode tax efficiency for remuneration and investment returns, meaning OMBs should revisit their tax planning sooner rather than later.

Growth Capital: EIS Up, VCT Down

There is good news for businesses seeking growth funding. From April 2026, the limits for companies to qualify for Enterprise Investment Scheme (EIS) will double, giving scale-ups and later-stage businesses greater access to capital. However, the tax relief on Venture Capital Trusts (VCTs) will fall from 30% to 20%, which may dampen investor appetite for VCTs and redirect capital toward EIS opportunities. Knowledge-intensive businesses such as tech, biotech and R&D-heavy ventures stand to benefit most. SMEs should anticipate stronger demand for EIS-qualifying opportunities and position themselves accordingly.

Succession planning

The Budget announced a modest concession to the changes in inheritance tax rules where businesses are passed on to the next generation.  In the 2024 Autumn Budget, it was announced that, from April 2026, full relief from inheritance tax would only apply to the first £1m of value – above that, inheritance tax would effectively be charged at 20%.  As a modest concession, this Budget announced that the £1m threshold could be passed between spouses and civil partners, potentially doubling the inheritance tax threshold for a family business. 

Instead of passing on a business to family, selling the business to the employees, through an Employee Ownership Trust has been a tax-efficient succession route, offering 100% CGT relief on disposals, That relief is now halved. Sellers will pay CGT on half the gain immediately, with the other half deferred until trustees dispose of the shares.  While EOTs still preserve culture and independence, the financial incentive is weaker, and some founders may now consider private equity or trade sales more seriously.

Business rates: Targeted Support

Finally business rates will be updated from 1 April 2026, to reflect property values since 2023, pushing most bills higher. To soften the blow, the Government announced a £4.3bn support package for retail, hospitality and leisure businesses, including permanently lower business rates multipliers eligible RHL properties with rateable values below £500,000. Over 750,000 properties are expected to benefit, but businesses should check eligibility and factor this into location planning.

Key Takeaways

  • Employment costs are rising
    Minimum wage increases and NIC changes will squeeze margins.
  • Tax efficiency is eroding
    Dividend and passive income taxes increase from 2026–27.
  • Growth opportunities exist
    EIS limits double, EMI expands, and apprenticeships become free for SMEs.
  • Exit strategies need review
    EOTs lose full CGT relief, making PE and trade sales more attractive.
  • Compliance matters
    Frozen tax thresholds and business rate changes require proactive planning.

Selling-Up and Scaling-Up: What investors look for in SMEs

Posted on: December 8th, 2025 by Alanah Lenten

Thinking about what’s next for your fast-growth business? For many founders, “selling up” sounds like throwing in the towel. But in the right hands, it’s the start of something bigger.

We’ve teamed up with our long-standing client, Ansor, a professional investment business that has a proven track record of successfully buying ambitious SMEs in the UK (and overseas) to develop them into market-leading businesses through their buy-and-build strategy.

We asked Ansor what they look for when choosing SMEs to join their growth journey. They came back with five key characteristics that make a business stand-out to them and what you could consider as you grow your business.

  1. SMEs Operating in Fragmented Sectors with Strong Tailwinds

Ansor’s sweet spot is focusing on sectors where the market is fragmented and ripe for consolidation. They look for room to scale through organic growth and acquire the best of the existing businesses to bring together a true market leader. Their sector coverage is across but not limited to healthcare, business services, specialist manufacturing and technical services to the built environment – all sectors supported by demand trends and persistent, macro-level forces that support growth for the long-term.

Therefore, if you’re in a niche with lots of small players and strong demand, you could be sitting on a goldmine. Scale is the name of the game.

  1. Excellent Culture and Values

Businesses with a clear sense of purpose and strong internal culture stand out. Ansor looks for companies whose values align with theirs; businesses that are committed to building something enduring. Ansor recognises that culture and values help build and maintain high performing teams.

Your culture isn’t just an HR buzzword. It’s a growth asset. Document it, live it, and make sure it shines through.

  1. Ambitious Management Teams with Clear Succession Pathways

People are at the heart of every successful business. Whether it’s a founder-led company with leadership ready to continue the journey, or a business where the owners are preparing for succession, Ansor partner with teams that are open to collaboration and growth. For those retiring, Ansor bring the support and structure needed to build out leadership, promote from within and ensure continuity. For those who are just getting started, Ansor are supportive and encouraging to help scale the business. It’s a team sport. What is good for the leadership team is good for everyone.

If you’re thinking about stepping back, plan early. If you’re gearing up for growth, show you’ve got the right team and the right mindset.

  1. Strong Underlying Profitability and Growth Potential

Ansor have discovered that there are desirable financial characteristics indicating strong fundamentals and competitive positions. These include stable and high-quality revenue streams, attractive margins, and reliable, repeatable cash flows. Beyond fundamental financial stability, they seek signs of growth –  whether organic or through identifiable levers that can be unlocked together post-acquisition.  

Healthy numbers matter. But so does a story about where you’re headed. Can you show both?

  1. Value Creation Potential

Ansor’s model is to combine SMEs together to create exciting high growth, market leading businesses of the future. They are experienced in creating and executing phased integration strategies to improve and join up the thinking on key business areas such as sales and marketing, procurement, service delivery, geographic expansion and systems to provide the highest quality of data to scale up.

If you’ve got room to improve and scale, that’s opportunity knocking. Think beyond today, what could your business look like in five years with the right backing?

Ready to explore what’s next?

If you are thinking about next steps and any of the above business attributes seem familiar, why not take a look at Ansor’s current portfolio companies here: https://www.ansor.co.uk/our-companies/

Read more about the work we do with Ansor to facilitate fast-growth, scalable businesses here or to understand how we can support you please contact Ryan D’Souza.

Lawrence Stephens Advises on Sale of Aspire Independent Financial Planners LLP Assets to HCF Partnership Ltd

Posted on: December 3rd, 2025 by Ella Darnell

Lawrence Stephens is delighted to have advised the owners of Aspire Independent Financial Planners LLP, Gary Plein and Jeff Maze, on the successful sale of their business to HCF Partnership Ltd.

This transaction forms part of our ongoing work in the consolidation of the Wealth management and Independent Financial Advisers (IFAs) sector, an area in which we have extensive experience and a proven track record.

This latest deal follows similar transactions we have advised on in the sector, including advising Fidelius on its investment in Vobis and advising HFMC Wealth on a series of strategic acquisitions further demonstrating our commitment to supporting clients through the entire lifecycle of their business be it sales or acquisitions.

The transaction presented unique challenges due to the structure of the deal and changes to the sale mechanism during the process.

Our team led by Jeff Rubenstein and assisted by Associate Isobel Moran, Solicitor, Avni Patel  and the employment team, adapted swiftly to these developments to ensure a successful outcome for all parties.

Jeff Rubenstein, Head of Corporate and Commercial and lead on the transaction, commented:

“This was a particularly intricate deal, with evolving requirements and structural changes that demanded flexibility and creative solutions. Our ability to adapt and deliver under these circumstances reflects the depth of knowledge and expertise we bring to IFA consolidation transactions.”

Jeff Maze, co-owner of Aspire Independent Financial Planners LLP added:

“We were delighted to have appointed Jeff and his team at Lawrence Stephens to guide us through this once in a lifetime sale. They gave us confidence throughout a complex process. Their proactive approach and ability to navigate unexpected changes ensured that the transaction was completed smoothly and efficiently and we would be delighted to recommend them to anyone in our sector who needs their expertise.”

Lawrence Stephens completes over £33 million worth of transactions in pre-budget sprint

Posted on: November 28th, 2025 by Alanah Lenten

November was an exceptional month for Lawrence Stephens, culminating in an intense surge of activity ahead of the Chancellor’s budget announcement. Pre-budget market speculation prompted many clients to accelerate their transactions to avoid potential negative impacts. This created significant pressure on our teams to complete deals within very tight timeframes.

In the days leading up to Rachel Reeves’ announcement, our teams successfully completed transactions worth over £33 million. Notably, our Corporate and Commercial team alone closed seven transactions the day before the budget, including five acquisitions, one sale, and a share restructure, totalling in excess of £15 million. Meanwhile, the Commercial Real Estate team responded to concerns about possible capital gains tax changes by completing £16.5 million worth of deals, including the sale of two industrial investment properties and the purchase of a mixed-use building.

Jeff Rubenstein, Head of Corporate and Commercial, commented:
“I am incredibly proud of how our team rose to the challenge. We have built a department designed to thrive under pressure, and this achievement shows the strength, resilience, and expertise we bring to every transaction.”

Stephen Messias, Director in Commercial Real Estate and a Lawrence Stephens founding partner, added:
“The scale and complexity of the work completed in such a short timeframe is a testament to the capability of our team. Delivering a number of challenging transactions under these circumstances required precision, collaboration, and unwavering commitment to client objectives.”

These achievements were made possible through exceptional collaboration with all stakeholders and a relentless focus on meeting client requirements under challenging circumstances. November’s success reflects not only the strength of our expertise but also our ability to deliver outstanding results when it matters most.

Leigh Sayliss Contributes to the Chartered Institute of Taxation on High Value Council Tax Surcharge

Posted on: November 27th, 2025 by Ella Darnell

Leigh Sayliss, Director and Head of Tax at Lawrence Stephens, is the chair of the Chartered Institute of Taxation’s Property Taxes Committee.

Following the budget announcement his comments were published here on the 26 November 2025.

Full text below:

New surcharge will add more complexity to property tax system

Commenting on today’s announcement of a high value council tax surcharge in England, Leigh Sayliss, chair of the Chartered Institute of Taxation’s Property Taxes Committee, said:

“This measure adds further complication to the current complex system of property taxation. There are already nine main taxes1 that you have to consider if you own property.

“Council tax is usually levied on the occupier whereas this tax will be payable by owners, including owners holding property indirectly through companies or trust structures, meaning that different people may taxed in relation to the same property.

“No tax is popular with those who have to pay it, and dry tax charges2 such as this tend to be especially unpopular.

“A key question is whether ownership of a valuable property is being treated as a proxy for ability to pay as some who will receive a bill will be ‘asset-rich, cash-poor’ pensioners.

“Just because a house has high value does not mean the owner has significant equity in the property. Longer mortgage terms have become more common. Asset-rich, cash-poor individuals who have built up a deferred mansion tax alongside a mortgage could find themselves stuck when they might have otherwise downsized.  Particular attention will need to be given to deferral arrangements and the interaction with mortgages and lenders’ willingness to lend.

“Using a banding system, similar to that used for the Annual Tax on Enveloped Dwellings (ATED), will reduce the numbers of arguments on the value of properties as there will only be sensitivity where property values are close to a rate boundary.  However, it should be noted that the proposal includes the same ‘double inflationary’ measure that is included in relation to the ATED – each year the rate of the tax will increase by CPI and, as property prices increase, properties will move up into higher rate bands.

“When ATED was introduced, it only affected properties valued in excess of £2m – but then the threshold was reduced to £500k. This raises the question as to whether there is a risk of a similar “scope creep” in relation to this tax, once the principle has been adopted.

“It is welcome that the government has decided to delay the implementation of the charge until 2028, and that there will be consultation on the charge early in 2026 on the details of the reliefs and exemptions, the design of an appeals system, and the deferral and support mechanisms available. From an administrative perspective, a new tax, even if notionally tagged on to council tax, needs time and resource to set up in terms of guidance, collection, appeals process, etc.”

Notes

  1. Council tax, stamp duty land tax (land transaction tax in Wales and land and building transaction tax in Scotland), annual tax on enveloped dwellings, income tax, corporation tax, capital gains tax, inheritance tax, VAT and national insurance.
  2. A tax liability that is payable without any money generated to pay for it.

Upward-Only Rent Reviews Banned: What Business Owners Need to Know

Posted on: November 26th, 2025 by Alanah Lenten

The UK Government is shaking up commercial leasing. As part of the English Devolution and Community Empowerment Bill, Upward-Only Rent Review (UORR) clauses will be banned in new commercial leases, a move designed to support small businesses and revitalise high streets.

If you’re a business owner negotiating a lease, here’s what you need to know.

What’s Changing?

From the moment this legislation takes effect, any clause in a new or renewal lease that prevents rent from decreasing will be unenforceable. This applies whether or not the lease is contracted out of the Landlord and Tenant Act 1954.

Existing leases won’t be affected, but going forward, landlords won’t be able to lock tenants into rent levels that only go up where, at the start of the lease, that level of rent is not known and cannot be determined.

Why It Matters to You

If you’re running a business from leased premises, this is a significant shift. UORRs have long been a thorn in the side of tenants, especially independents and SMEs, who’ve found themselves stuck paying above-market rents during downturns.

This reform transfers risk from tenant to landlord, meaning landlords are likely to follow the approach outlined below. You may however have more flexibility to negotiate rent based on market conditions when agreeing a new or renewal lease.

What Landlords Might Do Next

Landlords won’t take this lying down. Expect to see:

  • More aggressive initial rent negotiations to offset future uncertainty.
  • Shorter lease terms, often contracted out of the 1954 Act, which could mean more frequent relocations or renegotiations for tenants.
  • Pre-agreed stepped rents, where rent increases are fixed from the outset, as these won’t be caught by the ban.
  • Index-linked reviews replacing upwards only open market reviews, offering predictability but potentially less room for negotiation.

Also, don’t be surprised if tenant-friendly perks like break clauses or rent-free periods become harder to secure.

What You Should Do

If you’re entering into a new lease or renewing an existing one:

  • Review the rent review clause carefully, make sure it allows for downward adjustments.
  • Consider stepped or indexed rent structures if they offer better predictability.
  • Negotiate hard at the outset, landlords may front-load rent to hedge against future drops.
  • Get advice, a good commercial property solicitor can help you navigate the new landscape.

Final Thought

This reform is a win for business owners, but it’s not without trade-offs. As the market adjusts, lease negotiations may become more complex. The key is to stay informed, negotiate smart, and structure leases that support your business’s long-term viability.

If you’d like to talk through how this change might affect your next lease negotiation, our Commercial Real Estate team is here to help.

Taylor Swift’s Engagement and Why Business Owners Need a Pre-nup Too

Posted on: November 20th, 2025 by Alanah Lenten

Taylor Swift’s engagement to Travis Kelce might be dominating headlines, but behind the romance is a legal reality every business owner should pay attention to: the prenuptial agreement.

With a billion-dollar empire built on music, branding, and intellectual property, Swift’s lawyers are almost certainly drafting a pre-nup. But here’s the thing ,  you don’t need to be a global superstar to need one. If you own a business, have family wealth, or simply want clarity in your financial future, a pre-nup isn’t just smart,  it’s essential.

What’s a Pre-nup, Really?

A prenuptial agreement is a legal contract signed before marriage or civil partnership. It sets out how assets will be divided if the relationship ends.

In England and Wales, pre-nups aren’t automatically binding,  but since the landmark case Radmacher v Granatino, courts will usually uphold them if:

  • Both parties sign freely
  • There’s full financial disclosure
  • Each person gets independent legal advice
  • The agreement is fair and doesn’t leave anyone in hardship

In short: when done properly, a pre-nup carries serious weight.

Why Founders and Business Owners Should Care

Whether you’re scaling a tech startup or running a family-owned business, a pre-nup can protect what you’ve built. Here’s how:

  • Protecting pre-acquired assets: Like your business, property, or investments.
  • Safeguarding family wealth: Including gifts, inheritances, or shares in a family firm.
  • Providing for children from previous relationships: Ensuring their financial future is secure.
  • Reducing conflict and legal costs: If separation happens, clarity helps everyone move forward.

This isn’t about mistrust. It’s about planning responsibly,  just like you would with shareholder agreements or succession planning.

Common Pre-nup Myths, Debunked

“Pre-nups are only for celebrities.”
Not true. If you own property, have savings, or run a business, you have something worth protecting.

“Signing a pre-nup means you expect divorce.”
No more than writing a Will means you expect to die tomorrow. It’s about being prepared.

“Courts ignore them.”
Not anymore. Properly drafted pre-nups are taken seriously.

Lessons from Taylor Swift’s Engagement

Swift’s assets include royalties, trademarks, and ongoing income from her tours. But the principle applies to any business owner: protect your intellectual property, your equity, and your future.

A pre-nup isn’t about predicting failure. It’s about protecting success.

Practical Tips for Business Owners

  • Start early: Sign at least 28 days before the wedding to avoid pressure.
  • Be transparent: Full financial disclosure is non-negotiable.
  • Get independent legal advice: Each party should have their own solicitor.
  • Plan for change: Include review clauses for children or major life events.

Final Thought

If you’re engaged and you own a business, a pre-nup isn’t just a legal formality, it acts as a strategic move. It protects your legacy, your team, and your future.

At Lawrence Stephens, we help founders and business owners create pre-nups that reflect their values and protect what matters most. If you’d like to explore your options, contact Annabel Andreou today.

Because whether you’re planning a wedding or building a business, clarity is the best foundation.

Off-Duty, On Your Radar: Why Employee Misconduct Outside Work Still Matters

Posted on: November 20th, 2025 by Alanah Lenten

The Festival Fallout: What Happens When Staff Misbehave Off the Clock

During the summer and festival season, your team may have swapped spreadsheets for sound systems at Glastonbury, Reading or Download. For most, it’s harmless fun. For others, it’s a cocktail of excess, alcohol, drugs, and behaviour that’s anything but brand-safe.

And here’s the truth: what happens off-site doesn’t always stay off your radar. If misconduct is witnessed by clients, colleagues, or even caught on camera, it can quickly become your problem. This year, Glastonbury made headlines for all the wrong reasons, with antisemitic chanting aired by the BBC sparking public outrage and we all saw what happened on the Coldplay kiss cam when the CEO and Chief People Officer of the tech company Astronomer, were caught having an affair.

The reputational ripple effect was swift and severe.

When Private Behaviour Becomes a Public Problem

Not every out-of-hours misstep warrants disciplinary action. But if the behaviour is criminal, breaches your company policies, or risks reputational damage, you may need to act, and fast.

Here’s the usual playbook:

  • Investigate: Establish the facts and assess whether there’s a case to answer.
  • Hearings: If warranted, hold a disciplinary hearing and weigh up the evidence.
  • Decide: Take proportionate action based on the severity and impact.

But tread carefully. If there’s no clear link between the misconduct and the business, disciplinary action could backfire, think unfair dismissal claims or constructive dismissal risks.

Reputation Is Everything—But It’s Not Always Enough

Reputational damage is often cited as the reason for disciplinary action. But it’s a slippery concept. What counts as reputational harm? And how do you prove it?

Case law is full of surprises. Employees have been dismissed for behaviour most would consider outrageous, only for tribunals to rule the dismissal unfair. The key? Employers must genuinely believe the misconduct could harm the business and must assess the risk with care.

Drawing the Line: Policy, Culture, and Clarity

Entrepreneurs and owner-managed businesses often operate in close-knit teams where culture is king. That’s why clarity matters. Your people need to know what’s expected of them , on and off the clock.

Here’s what you can do:

  • Create conduct policies: Spell out what’s acceptable outside work.
  • Update your social media policy: Online behaviour is public behaviour.
  • Train your team: Regular sessions on professionalism and reputational risk.
  • Act consistently: Fair and prompt responses build trust and protect your brand.

Final Thought: Prevention Beats Cure

Managing off-duty misconduct isn’t just about damage control, it’s about setting standards that reflect your company’s values. In a world where personal and professional lives blur, your reputation is only as strong as your team’s behaviour, on and off the job.

Need help navigating this terrain? Contact Emma Cocker to see how we can support you. 

The Business of Sweat: How HYROX Built a Global Fitness Phenomenon

Posted on: November 20th, 2025 by Alanah Lenten

HYROX is the latest global phenomenon, with over 650,000 participants in 11 countries and over $140 million in revenue this year alone. Starting as an idealistic concept between two fitness gurus, it quickly snowballed into one of the most meticulously engineered, mass participation events in the world. But behind the sweat-drenched finish lines and roaring crowds lies a web of legal, logistical, and commercial strategy that has moved this fitness phenomenon into a league of its own.

The Rise of HYROX: From Concept to Cult Following

HYROX was born from the minds of Christian Toetzke, a veteran of mass participation events, and Moritz Fürste, a three-time world champion and Olympic medalist. Unlike CrossFit, which focuses on varied functional movements, or Spartan races and Ironmans, which emphasize endurance and obstacle challenges, this fitness event offers a consistent race format that combines running with functional fitness exercises. This model not only filled a niche in the market but also provided a structured, repeatable challenge that participants could train for and improve upon over time.

Community First: The Power Behind the Growth

The key to their success, it appears, is its emphasis on both community and consistency. A key part of their success is rooted in its community. With a race format that never changes, 1km runs interspersed with functional workouts, it offers predictability that fosters routine and progress. This consistency has helped build a loyal base of athletes who train year-round for the same challenge. Such organisation has inspired gyms, coaches, social media influencers, content creators and other athlete ambassadors to embrace the movement, which in turn has encouraged record numbers of participants across the globe and helped build the HYROX brand.

Operational Muscle: How to Run a Global Machine

Running standardised events across multiple countries presents significant logistical challenges. HYROX navigates these complexities by employing full time employees based at their headquarters in Hamburg, Germany with regional partners in countries hosting events.

Robust contracts for both full time workers and those working in the gig economy will help to ensure consistency and quality. This, in turn, has led to smoothly run events which competitors and staff alike can enjoy.

For example, volunteers at the London event get free entry to spectate, food, drinks, snacks, meet new people, patch & a ticket with priority access to upcoming UK competitions. Meaning that the brand not only gets almost ‘free help’, those volunteering get experience in a sporting event, they also have a unique opportunity to get “inside” knowledge into how specific events work with improved knowledge of the rules and potential tips and tricks for the next time they compete themselves.

However, HYROX may face some challenges in the near future in the UK, with the Labour government seemingly committed to reforming the employment law landscape through the Employment Rights Bill.

Intellectual property considerations, such as branding, also play a crucial role in maintaining the integrity of the HYROX experience worldwide. One key way they protect their brand is with trade marks. HYROX World GmbH owns the trade mark over the word “HYROX” granting them the exclusive right to use the mark for the registered goods and services.

The ownership of this right means they retain control over the use of the word. This enables them to create and maintain a strong brand identity, ensuring consistently high standards and enabling the brand to take enforcement action against counterfeiters or free riders wishing to benefit from their success without consent.

A strong trade mark can also become a valuable business asset as the brand grows and gains recognition, adding significant value for entrepreneurs looking to exit.

Scaling Sports: What’s Next for HYROX?

As the business continues to expand, the question arises: how can it be scaled even further, if at all? Can it match the likes of CrossFit?

The potential for growth lies in exploring licensing, franchising, and digital products. Entry into emerging fitness markets (e.g., Asia, South America) or collaborating with wellness brands could unlock new revenue streams. Should they wish to partner with other brands however, the company must carefully navigate the legal landscape surrounding licensing with carefully drafted license agreements, among other legal documents, to protect the brand and ensure HYROX retains ultimate ownership of its Intellectual Property.

Lessons for Entrepreneurs: What Can We Learn From HYROX?

HYROX’s journey offers valuable insights for entrepreneurs. The importance of identifying a niche, maintaining consistency, and fostering a strong community cannot be overstated. Operational precision is a core brand value that has enabled HYROX to deliver a reliable and high-quality experience.

The hybrid model of combining physical experiences with scalable commercial partnerships serves as a blueprint for success in the fitness industry and beyond. Entrepreneurs can learn from HYROX’s ability to innovate, adapt, and grow while staying true to its foundational principles.

Contact the sports team to see how Lawrence Stephens supports athletes and sport brands. 

Cyberattacks Are Coming. Is Your Business Ready? What Jaguar Land Rover Can Teach Founders About Resilience

Posted on: November 20th, 2025 by Alanah Lenten

When Jaguar Land Rover had their production lines ground to a halt in August it wasn’t a supply chain issue or a strike, it was a cyberattack, the company revealed this month that they took a £485m loss following the attacks. And it’s a wake-up call for every founder, entrepreneur, and owner-managed business in the UK.

Because here’s the truth: cyber threats aren’t just a big business problem. They’re a modern business reality. And if a global brand like JLR can be brought to its knees, what does that mean for the rest of us?

Let’s break down what happened, what it means, and how you can protect your business – before it’s too late.

Cybersecurity: Not Just for the IT Team

Cybersecurity isn’t just a technical issue. It’s a boardroom issue. It’s about protecting your operations, your reputation, and your bottom line.

A single breach can:

  • Freeze your systems
  • Erode customer trust
  • Trigger regulatory investigations
  • Cost you millions

And for founder-led businesses, the stakes are even higher. You’ve built this. You’ve scaled it. You’ve poured your energy into it. So protecting it isn’t a ‘nice to have’, it should be considered an essential element of your risk protection.

Preparation Is Power

The best defence? Preparation. Here’s what smart founders are doing now:

  1. Build a Crisis Plan

Know what happens in the first 72 hours. Who leads? Who communicates? Who isolates systems? Rehearse it. Simulate it. Make it muscle memory.

  1. Backups That Actually Work

It’s not enough to have backups. You need to know they’ll restore quickly. Jaguar Land Rover  shutdown shows how costly downtime can be.

  1. Train Your Team

Your people are your first line of defence. Teach them to spot phishing emails, suspicious activity, and the importance of software updates.

  1. Get Insured

Cyber insurance is a strategic tool. It can highlight vulnerabilities and give you access to breach response experts when it matters most.

The First 72 Hours: What Founders Must Know

If you’re hit, speed matters. Here’s your checklist:

  • Notify the ICO within 72 hours if personal data is at risk.
  • Alert customers and suppliers transparently.
  • Engage law enforcement and Action Fraud.
  • Call your insurer immediately to activate breach support.
  • Bring in forensic experts to contain the damage and preserve evidence.
  • Work with breach lawyers to manage regulatory fallout and potential claims. Compliance becomes survival!

Should you pay the ransom in a cyber-attack?

To pay or not to pay? That is the ransom dilemma.

Ransomware attacks often come with a demand: pay up or stay locked out.

The National Crime Agency advises against paying. But in reality, some businesses feel they have no choice. If you’re considering it:

  • Check your insurance policy- some cover ransom payments.
  • Consult a crypto recovery lawyer- recovery may be possible even after payment.

This is a high-stakes decision. Don’t make it alone.

Lessons from Jaguar Land Rover: Cyber Is a Leadership Issue

The JLR incident proves one thing: cybersecurity belongs in the boardroom.

Founders must:

  • Demand robust planning
  • Allocate real resources
  • Rehearse response strategies

Because when the attack comes, and if recent high-profile cyber attacks (JLR, M&S) are anything to go by, they can be on the horizon for any business. It’s not just your systems on the line, it’s your reputation, your team, and everything you’ve built.

Final Thought

Cyber resilience isn’t about paranoia. It’s about preparation. And for founder-led businesses, it’s about protecting the legacy you’re building.

If you want to stress-test your cyber strategy or build a response plan that actually works, get in touch with Dominic Holden. At Lawrence Stephens, we help founders stay secure, stay compliant, and stay in control, even when the worst happens.

UK SME Growth Strategy: What Founders and Business Leaders Need to Know

Posted on: November 20th, 2025 by Alanah Lenten

The UK government’s strategy published in August, Backing Your Business: Our Plan for Small and Medium-Sized Businesses, sets out reforms to drive growth and innovation across the SME sector, recognising their vital role in driving innovation, employment and economic growth within the UK.

With SMEs representing 99.8% of the UK businesses and generating over £2.8 trillion annually, the strategy places small and growing businesses – from start-ups to owner-managed enterprises – at the heart of the UK’s economic future.

But what does this mean for your business? Below, we highlight the key pillars of the strategy, and what founders, SMEs, and business leaders should consider to prepare.

  1. Fixing the Fundamentals

The government aims to cut late payments, reduce regulatory burdens by 25%, and modernise tax and customs systems. They also plan reforms to support small developers and support the net zero transition including support with energy efficiency.

For SMEs, founders and business leaders, this means:

  • Cash flow protection
    Late payment remains a top cause of small business failure. Strong contract and invoicing processes are essential, including ensuring your commercial contracts are drafted and reviewed to ensure compliance with new late payment legislation and interest clauses.
  • Regulation simplification
    All business owners dream of a world with less admin and corporate reporting, but it is essential to stay ahead of new compliance requirements that come with new licensing reforms and SaMBAs (Small and Micro Business Assessments).
  • Planning reforms
    Growth-focused businesses may gain easier access to sites and infrastructure opportunities.
  • Net Zero readiness
    Sustainability is becoming a competitive advantage with customers, investors and lenders. Ensuring a review of green leases, energy contracts, and sustainability-linked financing aids the transition to environmentally-conscious business practices.

 

  1. Unlocking Access to Finance

Reforms will expand start-up loans, British Business Bank programmes, introducing mandatory Code of Conduct for personal guarantees, and improve access to finance for underrepresented founders.

Why this matters for SMEs and owner-managed businesses:

  • Funding choices
    The wrong loan or equity structure can add unnecessary risk if compliance with lender codes and guarantee terms aren’t considered.
  • Investor Readiness
    Businesses with robust governance, shareholder agreements and IP protections are more attractive to investors.
  • Inclusive funding
     New regional and diversity-focused schemes could unlock finance that was previously out of reach.

 

  1. Backing the Everyday Economy

Plans include licensing reforms for hospitality and night-time economies, High Street Rental Auctions and Community ‘Right to Buy’, transforming business rates, banning upward-only rent review clauses and introducing crime prevention initiatives.

Implications for business leaders:

  • Rental flexibility
    Property reforms may lower overheads or open up high street opportunities.
  • Licensing changes
    Retail and hospitality businesses need to stay compliant to avoid costly disruption.
  • Crime prevention
    Measures could help reduce theft and loss such as shoplifting and tool crime, protecting already tight margins.

 

  1. Future-Proofing Business Skills

Supporting digital adoption programmes and AI integration, leadership and mentoring initiatives, apprenticeship and skills system reforms and enterprise education and youth entrepreneurship awards form a key part of the strategy.

Why founders should take note:

  • Workforce development
    Apprenticeships and training can tackle skills shortages while building loyalty.
  • Digital & AI adoption
    Early adopters gain efficiency, but compliance (e.g. data protection) must be built in.
  • Leadership growth
    Governance and mentoring initiatives help scale businesses sustainably. Supporting leadership development through governance frameworks and mentoring agreements assist this.

 

  1. Opening Up Opportunities

The government is launching the Business Growth Service, providing export support and trade finance expansion, SME-friendly procurement reforms, IP protection and secure innovation reviews.

For SMEs and growing businesses:

  • Public Procurement
    More opportunities to supply government contracts, but preparation is key.
  • Export readiness
    Strong contracts and customs compliance are vital to avoid delays and penalties.
  • IP Strategy
    Innovations need to be protected and commercialised to maintain competitive advantage from registering and enforcing IP rights to licensing, and IP-backed financing.
  • Cybersecurity and Innovation
    Strong protections build customer trust and secure growth..

 

The UK’s SME growth strategy is wide-reaching, with reforms that could reduce risks, open new opportunities, and make it easier to scale. For founders, owner-managed businesses and SMEs, the challenge is translating policy into action: tightening up contracts, reviewing finance options, investing in digital tools and skills, and safeguarding innovation. We play a critical role in helping our clients and their businesses interpret and implement these reforms, ensuring they remain compliant, protected and well positioned to seize new opportunities.

Those who prepare now will be best positioned to thrive as the strategy unfolds.

View our checklist to see what you can do to prepare

If you are a small or medium-sized business who wants to understand how you can utilise any of the points mentioned above or understand the effect these changes may have on your operations or growth plans get in contact with Harshita Samani.

Lawrence Stephens announces the launch of LS Private

Posted on: November 11th, 2025 by Alanah Lenten

Lawrence Stephens is proud to announce the launch of LS Private, a new multi-family office platform established to provide professional services that enhance and complement the firm’s tailored legal advice.

Designed for entrepreneurs, first-generation wealth creators, and family principals with complex or cross-border interests, LS Private delivers independent governance, oversight, and operational support to protect family capital, simplify decision-making, and strengthen control. Acting as a single point of accountability, LS Private coordinates the full ecosystem of legal, financial, and personal affairs ensuring that every adviser, asset, and decision is aligned.

The venture is led by John Russo, who brings more than fifteen years of experience advising and managing ultra-high-net-worth families and businesses. Before founding LS Private, John created and led the single-family office for one of the UK’s most prominent families, overseeing legal, financial, operational, philanthropic, and reputational matters across a portfolio exceeding £1 billion. Clients value John as a discreet and decisive operator who combines legal precision with real-world execution. His focus is on delivering three outcomes for principals and their offices: stronger governance, structures that work in practice, and the swift resolution of complex issues. John also serves on the Board of Directors of the Royal Philharmonic Orchestra and as a Trustee for The Diana Award.

Steven Bernstein, CEO of Lawrence Stephens, commented:

“Our clients are entrepreneurial and often managing growing personal and family complexity. LS Private extends our ability to help them beyond legal advice – providing the independent governance and trusted oversight needed to safeguard family capital and reputation. With John’s expertise, we can support both newly formed and established family offices in navigating the strategic and operational challenges that accompany wealth.”

John Russo, Managing Director of LS Private, added:

“I’m delighted to build LS Private with the backing of Lawrence Stephens. Having led single-family offices from inception, I know the difference that disciplined governance and effective coordination can make. LS Private brings that experience to others. Helping families, founders, and their advisers turn complexity into clarity.”

Visit LS Private

LS Private is a wholly owned subsidiary of Lawrence Stephens Ltd. and is not regulated by the Solicitors Regulation Authority.

For further information, please contact: Daryl Atkinson.