Chambersfield Economides Kranos’ valuable advice and recommendations for business development
An Article by Michalis Economides, Advocate & Legal Consultant | CEO of Chambersfield Economides Kranos Law firm
Article Publication: Capital Today Magazine November 2018.
The business sector is very challenging but also thrilling. The stunning technological development has overturned the balance of businesses across the globe and led to the formation of a new, modern and multidimensional environment that requires immediate action, consistency and confidence from the companies.
As a law firm with physical presence in more than nine countries and activities at an international level, we have noticed (although each case is unique) that entrepreneurs are constantly seeking new business actions. In this way, particular emphasis is placed on finding strategies that aim at achieving a more favorable result and thus the diversification of their company both locally and internationally.
There is no doubt that the main objective of the businesses is to maximize productivity, increase profitability and minimize operating costs. Based on our experience, businesses are primarily considering scenarios and strategies, which have the privilege of delivering a direct result, which will have as an outcome the reduction of operating costs, increase of productivity and therefore an increase in profits.
LEGAL CONSULTANT IS ESSENTIAL
My experience as CEO and Legal Advisor at Chambersfield Economides Kranos, has repeatedly taught me that every strategy and every business case requires thorough and systematic analysis and review. Besides, each case receives influences (positive or negative) from the various changes and fluctuations of both domestic and international markets as they arise from the political, economic, social, technological, environmental and legal framework.
Consequently, it is important to note that choosing the right legal consultant is of upmost importance as along with the entrepreneur, they can create favorable conditions for achieving growth strategies.
BEFORE IT’S TOO LATE…
At this point, it is noteworthy to mention that we have repeatedly observed that, unfortunately, company founders and entrepreneurs addressed to legal counselors at a later stage, when they actually face problems with their businesses. Problems that could have been avoided through proper collaboration with reputable lawyers familiar with the company’s business, how their market operates, the model they follow and the goals they set.
Thus, our advice, regarding the development of a business is to build a stable and uninterrupted cooperation with a well-established, accredited law firm which specializes in corporate, commercial and labor matters and will have knowledge and connections at international level. With this cooperation, each entrepreneur will ensure that strategies are properly implemented and aligned with all the procedures resulting from the legislative framework.
At the same time, with the goals set by businesses in order to increase cash flow, reduce costs and develop the business, strategic actions are proposed on a case-by-case basis. Actions that, if properly executed, can contribute to the further development of the business.
WHAT WE PROPOSE
Specifically, some of the strategic actions that we have already implemented in several businesses and resulted in the development of the businesses, both locally and internationally, are:
- Better management of corporate loans through restructuring, which has increased liquidity and hence expansion, retention and growth strategies
- Company Formation / Re-domicile in a more tax-favorable jurisdiction
- Shareholders Restructuring
- Group Restructuring
- Debt Collection Strategies
- Trading Agreements
- Mergers & Acquisitions
- Franchise Agreements
- Trust Services
- Windup Voluntarily Insolvency
- Investment Management
- Portfolio Management
As I have already mentioned, each case is unique, that is why the close cooperation with a legal consultant is essential and necessary because the consultant’s comprehensive and analytical knowledge of the economic, financial, investment, real estate and technological field assist in finding the appropriate strategic and business model that can be adapted by the business.
As a lawyer and businessman, I believe that each business / company, before implementing any strategy, should have a clear and precise picture of the legislative and business framework governing the country / business sector it is located in and set the necessary legally available safety measures, so as to avoid any negative consequences that may result from misconduct.