When fashion entrepreneur Professor Jimmy Choo, OBE first launched his business back in 1986, he happily admits he was walking into the unknown.
A shoe designer by trade, he set up his first shop in part of an old hospital in Hackney, there he learnt a quick lesson: location is critical when you are starting out. An old hospital was not where you would expect to find people who were looking to buy shoes!
Contributing the Foreword to ‘Staying Open for Business – Legal Essentials for Entrepreneurs,’ which sets out to simplifying the intricacies of the law, and make it as easily understood as is possible, Professor Choo remembers: “The importance of finding the right location was not, I discovered, the only thing I didn’t know when I started out.
“I soon discovered that I knew very little, if anything, about the law – I didn’t, for example, know how to register my Trade Mark; it was a couple of years before I became aware that it was in my best interests to register.
“Looking back at my early career now, I can see how useful it would have been to have had a basic framework of guidance like that offered in this book.”
‘Staying Open for Business – Legal Essentials for Entrepreneurs’ is the first of a series of books of its kind; others coming soon include help for people in the process of buying or selling residential property, and for students aspiring to a career in law. All have contributions from senior lawyers who are experts in their particular field, and have been happy to help.
Our mission is to raise awareness of the legal implications and steps involved in some of life’s major decisions. Launching a new business is a big step for many people – as Professor Jimmy Choo, OBE found out when he first started – and having access to important information before doing so can save time and money in the future.
Staying Open for Business – Legal Essentials of Entrepreneurs is already making an impact in the lives of small business owners. Florin Georgescu, of Little Magic Scissors Hair and Beauty bought the book while he was in the process of launching his wife’s new hair and beauty salon, and told me he found it ‘absolutely invaluable’ in the countdown to the opening.
“It saved me two months’ rent,” he told me. “One of the things I found out was that you are entitled to a rent-free period ahead of the beginning of a lease, while you renovate and improve the building you will be operating from.
“I had no idea about this, so essentially, reading your book saved me two months’ payment prior to opening the business, while we prepared and fitted out the property, and made it ready for our launch date. If I hadn’t have read that, I would have simply started paying the money from when I took possession.”
For more information about Law Understood’ guidebooks, and to purchase a copy of ‘Staying Open For Business – Legal Essentials for Entrepreneurs’, visit the website: www.lawunderstood.com, or email firstname.lastname@example.org.
‘Staying Open for Business – Legal Essentials of Entrepreneurs’ is also now available in paper back and Kindle on Amazon.
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