Taking on Consultants

 

Sometimes the best way to expand can be to take on consultants, who will work for a percentage of whatever they make your firm.  This is a relatively risk free way of expanding, that can be turned into something more permanent at a later stage.  The usual earnings split is generally 60:40 or 70:30 in favour of the consultant. However, your overheads will be specific to your business, and so it is important to think very carefully about the right split.

 

​

​

​

​

​

​

​

​

It is also a good idea to have a consultancy agreement in place.  Typically, these will be comprehensive, and deal with these things among others -

​

• The services the consultant will deliver.

• Scope of work, deliverables, and any exclusions.

• Start and end dates of the agreement, or whether it’s open-ended.

• Notice periods, and reasons for termination.

• Consultancy fees

• Invoicing schedule and payment terms

• Reimbursement of expenses, if applicable.

• Confidentially, including after the consultancy agreement ends

• Clauses to ensure that your intellectual property is protected

• Non-competition clauses.

 

​

​

​

​

​

​

 

                                           

                                   to discuss how we can assist you.

​

​

   See also: 

​

​

​

​