How to protect your business in a recession

28 June 2023

Here are proactive steps you can take as a business owner to safeguard your business during a recession. In this post your we explore some valuable strategies and insights to help protect your business during a recession and how our Business Lawyers offer essential assistance.


Structure your business for resilience

How your business is set up is the first area you should review. The structure you ran with when you first established your business may not be the best option for you now. A company’s legal structure needs to be both robust and adaptable, and if it isn’t, the business is built on unstable foundations and open to creditor claims.


How our Christchurch Business Lawyers can help

Together we’ll explore the most suitable legal entity for your business. Changing legal entity can be a way to benefit from liability protection and carry tax advantages. Consulting with a law firm helps to navigate the complexities of business structures and select the best business structure for your unique circumstances.


Cashflow

Successful business owners needs to have a strong understanding on their cashflow and their business’ financial position. One way to increase your cashflow is by having terms and conditions of trade with your clients. This document will outline the work you do for them, what your responsibilities are, your fee, fee enforcement provision and disputes resolution options.


How our Christchurch Business Lawyers can help

Our experienced Christchurch Business Lawyers can help by drafting bespoke terms and conditions of trade. Bespoke terms can reduce the chances of any fee disputes and other disputes further down the track.


Review the commercial lease

Commercial leases typically represent a significant portion of a business’ expenditure, so during a recession and when the potential for revenue to be negatively impacted. It’s crucial to review and renegotiate commercial lease terms to minimise costs to regain financial stability. 


Man conducting business on his phone

How a Business Property Lawyer can help

By carefully examining the terms of your commercial property lease, a Business Property Lawyer identifies the opportunities available to you for renegotiation or lease restructuring while ensuring you remain compliant to legal obligations.  

 

Contract review and negotiation

Reviewing and renegotiating existing contracts with suppliers, vendors, and clients can be a strategic move during a recession so the contracts better align with your financial goals and limitations. For example, this can include revising payment terms, debt recovery and credit control procedures or modifying delivery schedules.


How a Contract Lawyer can help

A Contract Lawyer analyses the existing contracts the business is bound by to ensure the terms and conditions work to your advantage while maintaining the essential working relationships.


Contact us today for a free, confidential no-obligation chat about how we can help your business. Click here or call 03 379 1740.

A couple is sitting at a table with a model house in front of them.

Top 10 buying and selling property questions people ask our Christchurch law team

17 April 2025
Navigating property transactions can be complex, especially in Christchurch's dynamic real estate market. At our Christchurch law firm, Weston Ward and Lascelles, our property lawyers in Christchurch frequently address these common questions from clients. Whether you're a first-home buyer , seasoned investor, or selling your family home, understanding these aspects of property conveyancing will help ensure a smooth transaction. 1. What exactly does a property lawyer do during a property transaction? Our Christchurch property lawyers handle all legal aspects of a property transaction, including reviewing and drafting the Sale and Purchase Agreement, conducting thorough title searches, liaising with your bank regarding mortgage documentation, managing settlement processes, and ensuring proper transfer of ownership. Essentially, we take the reins (and the stress) from you and take control of the house buying or selling process to make sure potential pitfalls are identified and fixed, everything is legal, and your interests protected. 2. When should I engage a property lawyer in the buying or selling process? The short answer is yesterday. The longer answer is that ideally, you should contact us before signing any agreements. Early engagement allows us to review documents, explain conditions, and identify potential issues before you're legally committed. For sellers, we can help prepare your property's legal documentation in advance, making your property more attractive to serious buyers and streamlining the conveyancing process. However, if you have already signed paperwork and have not instructed a law firm, don’t panic – you aren’t the first people, and you won’t be the last. Contact our property law team in our Christchurch offices at your earliest convenience. 3. What are the risks of purchasing a property without proper legal advice? Without quality property law advice in Christchurch, buyers risk overlooking critical issues such as title defects, council compliance matters, boundary disputes, or easements that might impact property value and enjoyment. Unfortunately, Weston Ward and Lascelles’ property lawyers have seen many cases where buyers faced significant, yet avoidable with proper legal representation, unexpected costs or legal complications. Nobody likes the idea of having to pay for legal services, until its too late. It is more cost efficient to pay for legal advice before any issue has snowballed. 
Property Lawyers showing where to sign a commercial lease

Can I break/get out of my commercial lease?

9 April 2025
If you need legal services because you have an existing agreement and wish to break the commercial lease, contact Weston Ward Lascelles Solicitors today!