With the ever-changing economic landscape, especially this 2022, it is a must for businesses to reconsider their goals and find ways to adjust to the current trends that surely affect their daily operations whether locally or internationally. Below are some of the practical and legal alternatives your company can implement.
1. Protect your business from cyberattacks.
With the rising number of companies using digital means to improve day to day operations and allowing some of their employees to work at home in the midst of the pandemic, there is a greater need for the adoption of effective cyber threat protection.
Last year alone, half of the entire business population in the UK struggled against attempted cyberattacks every week. A large percentage of the victims come from small and medium businesses.
And because of continuing advancement in technology, the strategies used by the attackers are also evolving. This is why it is a must for every business to be updated with the latest tools to protect them against all forms of cyber threat including malware, ransomware, DDoS attacks, spam, phishing, corporate account takeover, and ATM cash out.
Unauthorised access, damages, disruptions and loss of any critical information definitely poses serious problems to businesses internally and externally. Make sure that you have legal protection in place to punish the attackers by asking advice from IT commercial lawyers. Also, take advantage of the government’s Cyber Essentials scheme.
2. Tackle climate change and act on it.
Climate change affects all sectors of society including businesses. Natural disasters like floods and storms can definitely disrupt supplies and distributions. And so, it is just right for your company to tackle this in your decision-making system. Take note that climate issues require immediate action.
The best way your business can help in combating the effects of climate change is by implementing sustainable options to your operations. Recycling, creating open air areas, using bicycles, and storing rain to water plants are some of the ways to lessen pollution and carbon emission.
Talk to your company law solicitor about the government’s incentives to companies going green including tax relief.
3. Find ways to mitigate the effects of COVID 19 pandemic.
It’s 2022 but COVID 19 is still around and even mutating. As a result, companies are trying their best to stay in operation despite the many challenges. This includes allowing workers to work from home in order to avoid contracting the virus on the way to the office. This in turn requires new work set up agreements, which corporate lawyers can help.
Because of financial difficulties in the midst of the pandemic due to order cancellations, employee absences, late deliveries and supply shortages, the government has offered loan schemes in order to help small, medium and large businesses recover fast. Ask guidance from your commercial lawyer which of the four schemes are best for your company: bounce back, COVID business interruption, COVID large business interruption or COVID corporate financing.
4. Think of how to better manage the business post-Brexit.
With the United Kingdom withdrawing from European Union membership, many businesses have to adjust trade dealings to avoid high costs and even bankruptcy. They have adapted new rules involving importation, exportation, travel, goods transportation, service delivery, employment, data exchange, and more. Talk to your preferred business dispute solicitors on how to solve conflicting interests as a result.
There are companies who worry about onshoring because they are not ready yet. At the moment, they can only depend on collaboration with other local businesses and investors.
But for those who can outsource online, access to labour, skill and talent is not a problem. They can always hire people from all over the world.
These are just some of the best commercial lawyer tips your company can implement this 2022.
