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The Fineprint – Edition 1 – July 2025

Posted on: June 27th, 2025 by Alanah Lenten

A note from the Editors:

We’re pleased to launch Lawrence Stephens quarterly newsletter designed for founders, entrepreneurs, and owner-managed businesses who are passionate about growing their ventures and staying informed about the latest industry trends and legal updates. If you’re a business owner, startup founder, or an entrepreneur looking to gain insights, practical advice, and inspiration, this newsletter is for you. Whether you’re just starting out or looking to scale your business, The Fineprint offers content written with you in mind.

– Charlotte Hamilton and Alanah Lenten

Subscribe here if you’d like this newsletter delivered straight to your inbox 

 

In this edition

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How to Structure Your Business Like a Socialist

Inspired by the upcoming ‘Marxism 2025: a festival of socialist ideas’ we put our lawyers through a thought experiment: we explore how to build a business on socialist values – without sacrificing entrepreneurial ambition. From share schemes to employee ownership, Leigh Sayliss and Oliver Corbally explain how you can be Capitalist with a conscience.

 

Beyond the Crowd: The People Powering Events and the Contracts That Support Them

Whether you’re running Glastonbury or Wimbledon, successful events are powered by a complex team. Therefore, getting employment contracts right is no longer optional. Each status comes with different rights, responsibilities, and risks. Becci Collins breaks down what organisers need to know about worker classification and the key risks.

 

Burberry, Budgets & Booms: What’s Really Going On in the UK Economy

Retail’s recovering. Luxury’s wobbling. Growth is peaking. What does it all mean for your business? Charlotte Hamilton breaks down the headlines into real-world signals and how to respond.

 

How to Get Disqualified as a Director

Ever wondered what gets directors banned for up to 15 years? From misusing Bounce Back Loans to dodging tax, Lefteris Kallou outlines the most common (and costly) mistakes directors make and how to avoid them.

 

How the UK can back Crypto Innovation with Action

The UK has an incredible opportunity to lead the world in digital assets and blockchain innovation, so why are we still stuck in first gear? Matt Green explores the steps that could help the UK move from ambition to action, from appointing a blockchain envoy to launching a coordinated digital asset strategy.

 

Why Founder-Led Businesses Are Reshaping the UK Economy

From gritty growth stories to game-changing innovation, founder-led businesses are rewriting the rules. Alanah Lenten sat down with John Maffioli to understand why he started FEBE and what FEBE’s Growth 100 tells us about the future of UK business.

 

Thinking of Selling Your Business? Why the Exit Isn’t Always the Fairytale Ending

We teamed up with coach and founder Lucy Scarlett to explore the emotional reality of business exits – from loss of identity to post-sale guilt – and what you can do to navigate it with clarity.

If you have any feedback, queries or comments on any of the above articles, please get in touch with Alanah Lenten.

How To Structure Your Business Like A Socialist

Posted on: June 27th, 2025 by Alanah Lenten

With the UK’s biggest socialist festival (Marxism 2025: A festival of socialist ideas) fast approaching this July, there’s something in the air: a reimagining of how power, profit, and people can coexist.

It got us thinking…

What would it look like to structure a business on socialist principles, without giving up the entrepreneurial spirit that fuels start-ups and scale-ups?

We put our lawyers through a thought experiment: how would you build a business that shares success, supports workers, and still grows fast?

Turns out, you don’t need to throw out capitalism entirely to build a company rooted in fairness. The UK tax system, perhaps surprisingly, offers smart, practical ways for business owners to share the rewards of growth with the people who help build it, without sacrificing financial success.

Here’s how to structure your business with socialist values and make the system work for your team, not just for you.

From Startup to Shared Success

The early days of running a business are tough, ‘cash is king’, and conserving it is critical. One creative way to extend your runway? Share equity with the people who are helping you grow. Giving shares in a new company to the people who work for it can save the company hard earned cash, leaving more of the venture capital funds available to grow and develop the business. 

Issuing shares to key team members early on not only reduces your wage bill, it also aligns their interests with your interests as founding owner. Better still, if your business succeeds, those early shares can turn into a meaningful reward for your team.  Having shares in a business is not as secure as being rewarded with a salary and there is even a risk that the value of the shares may fall – and the tax system recognises this risk, taxing capital gains more lightly than income. Although the worker may be taxed on the value of the shares they receive if you bring them into the business before the business has started to grow, the value of the shares should be low.  Any increase in value will then generally be taxed as a capital gain – giving a lower rate of tax than earnings. 

For those who join later in the game, when your company already has value, growth shares may be more appealing.  These only have value if the company grows, allowing people to benefit from the growth in the business to which they have contributed – with the benefit that they reduce any tax charge when the shares are issued. 

The key is to plan early. Don’t wait until your company’s value has risen; that’s when the tax charges get trickier.

Options That Support the Collective

As your business grows, you can offer share options rather than immediate shares. These let employees buy shares later at a set price – usually the current value – meaning that if the company succeeds and the shares go up in value, the worker can buy them at a discount, but if they go down, the worker doesn’t lose out.

To make this even more effective there are option schemes that allow the benefit of the lower capital gains tax rates when the shares are sold:

  • Use EMI (Enterprise Management Incentives) for maximum tax efficiency, these are tailored for small, fast-growing businesses.
  • Or try CSOP (Company Share Option Plans) which are still tax-advantaged and great for rewarding key team members.

Both schemes are designed for strategic flexibility so you can choose who benefits.

Want Everyone In? Go Egalitarian

There are also schemes designed for all employees, not just a chosen few:

  • SAYE (Save As You Earn) lets workers save monthly and buy shares at a discount after 3 or 5 years.
  • SIPs (Share Incentive Plans) let you gift shares or match employees’ own investments with bonus shares, all in a tax-efficient wrapper.

These can create a culture of collective ownership and long-term thinking, where everyone has skin in the game.

If You Really Want to Go Full Co-op

A business owner can allow workers in the business to acquire shares and have an involvement in the profits of the business – but what about the owner who wants to retire or sell up and hand over the business to the workers?  Well, if you’re inspired by John Lewis, Arup or Mott MacDonald, and you’re thinking long-term legacy, Employee Ownership Trusts (EOTs) might be for you.

Selling your business to your employees via an EOT can:

  • Allow you to sell tax-free (as long as the trust acquires at least 50% of the business).
  • Unlock tax-free bonuses (up to £3,600 a year) for employees going forward.

As a final bonus for the workers who were given EMI Options, they should be able to exercise their options and receive shares (EMI Shares) at a discount.  Even though they will have received the EMI Shares as a benefit of their employment, any gain they make on selling them should be subject to the lower tax rates that apply to capital gains (as against income).

It’s an elegant succession plan for founders who want to retire and leave something meaningful behind for the people who helped them create and grow their business.

Leaving a Legacy: Social Values Beyond the Business

For founders thinking long-term- beyond even their active role in the business- there’s another layer to consider: charitable giving through Wills. Allocating a portion of your estate to causes that align with your values allows you to extend your impact well beyond your lifetime. Not only can this support causes close to your heart, it can also reduce the tax burden on your estate, allowing you to give more both to your beneficiaries and to charity.

Whether you want to leave a specific bequest or dedicate a percentage of your estate to charity, these actions reflect the same values of social responsibility and shared benefit that underpin everything from employee ownership to ethical investing.

Sharing Success Isn’t Just Socialist –  It’s Smart

Founders often fear that “giving away” equity weakens their position. But what if sharing actually strengthens your business?

Workers who own a piece of the company are more motivated, more loyal, and more invested, quite literally, in its success. With the right structure, you’re not handing over control. You’re building a team of mini-founders who want the business to win. 

And yes, it’s possible to do this without bleeding cash, losing your edge, or drowning in tax bills. The UK system, for all its quirks, supports smart, inclusive entrepreneurship.

The Bottom Line

You don’t have to be waving a red flag at a rally to structure your business like a socialist. But if you care about people, equity, and purpose – and you want to build a business that reflects those values – there are real, tangible tools at your disposal.

So this July, while the crowds at the socialist festival debate the future of work and ownership, ask yourself: what kind of business do I want to build?

Because with the right strategy, you don’t have to choose between profit and people. You can have both.  Letting your workers have shares may leave you with a smaller percentage of the equity – but the business is so much larger that everyone wins.

If you’d like to explore how this could work in your business- whether you’re raising funding, building a team, planning your exit or shaping your legacy – do get in touch. At Lawrence Stephens, we’re here to help founders build businesses that reflect who they are, and what they believe in.

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

Beyond the Crowd: The People Powering Events and the Contracts that Support them

Posted on: June 27th, 2025 by Alanah Lenten

As Glastonbury welcomed hundreds of thousands of festival-goers this summer, most of us were preoccupied with set times, glitter face paint, and avoiding sunstroke. But behind the scenes, it’s not just the headliners who deserve your attention. For founders, entrepreneurs, and anyone involved in running events—whether that’s a one-off music festival, tennis events involving copious amounts of strawberries and cream, or a touring experience—it’s crucial to understand who you’re hiring, how, and what that means legally.

The rise of the gig economy reshaped the employment landscape. It’s provided event organisers with the flexibility they require and permitted individuals to work on their terms. Employers have often assumed short-term or freelance roles offer a convenient solution to the running of large scale events. However, the gig economy is now itself being reshaped following legal challenges focusing on providing greater protection for those engaged in working arrangements that are a-typical. In 2017, 700 temporary workers were terminated by Glastonbury organisers after two days when they had reported promise of 2 weeks work, leaving them stranded having travelled from overseas to help with the Glastonbury clean up and left individuals out of pocket. This led to alleged mishandling of employment contracts and subsequently a tidal wave of negative PR for the organisers. 

So, as you plan your next big event, here’s what you need to consider about employment status; and why simply calling someone a “freelancer” doesn’t make it so.

From Headliner to Hospitality: Who’s Working Your Event?

Every successful event is powered by a complex team: from the riggers and sound engineers, to brand ambassadors, hospitality staff, and social media teams. Whether you’re a founder outsourcing your activation at a major event, or you’re hosting something yourself, you’ll likely be engaging a mix of:

  • Employees
  • Workers
  • Self-employed contractors

While the Government has proposed removing the worker status, for now, we retain the three. Employees have the most comprehensive employment rights, while workers have fewer (for example, they do not have protection from unfair dismissal). Self-employed contractors generally only have the rights contained within their agreements with their client.

Each status comes with different rights, responsibilities, and risks.

Why Getting It Wrong Isn’t an Option

It might seem harmless to take a “casual” approach for short-term or seasonal work. But misclassifying someone, intentionally or not, can result in serious consequences. And in an era of rising scrutiny, your event might be over in a weekend, but the consequences could last much longer.

Some of the most common pitfalls include:

  • Misuse of zero-hour contracts
    In 2017, the organisers of the Glastonbury Festival were accused of hiring 700 workers from across Europe on zero-hour contracts to act as litter pickers, cleaning the site after the festival had ended. The workers were expecting two weeks of paid employment. However, they were fired two days later, leaving hundreds stranded in the Somerset countryside and out of pocket.
  • Unpaid holiday pay and rest breaks
    Individuals are often required to work back-to-back 18-hour days, which could breach the legal minimum requirement of rest breaks prescribed by the Working Time Regulations 1998.
  • Health and safety breaches
    The performing arts union, Bectu, surveyed 100 music festival workers. The results were worrying; half of the people questioned reported feeling unsafe at work, and a third reported having experienced a risk to their physical safety.
  • Non-payment of tax and National Insurance
    A nightclub owner is due to be sentenced this year for deducting tax and National Insurance from employees’ salaries but failed to pass the money on to HMRC.
  • Employment tribunal claims for unfair dismissal or unlawful deductions
    In March 2022, P&O Ferries sacked 800 seafarers without notice, replacing them with cheaper agency workers. Many of the affected employees filed employment tribunal claims for unfair dismissal and unlawful deductions from wages. The company admitted it knowingly broke the law by not consulting unions or employees, which is required under UK employment law.

It is important that organiser’s get employment status correct as:

  • There is implied obligation between employers and employees, such as the mutual duty of trust and confidence;
  • A number of core legal protections are only applicable to those classed as employees, such as unfair dismissal;
  • Only employees are covered by the Acas Code of Practice on Disciplinary and Grievance Procedures;
  • The tax position of an individual depends on their employment status, as determined by HMRC.
  • Employers are vicariously liable for acts done by its employees in the course of their employment, and
  • There are different implications for handling personal data, under UK GDPR depending on an individuals employment status.

So how can you avoid these pitfalls?

5 Key Tests to Get Employment Status Right

If you organise one off, or short-term events,  you must remember employment status still applies and you cannot determine the nature of your relationship with the individuals you engage by simply putting a label on it. Proactive steps must be taken to assess the employment status of employees, workers, and self-employed contractors. To achieve this, it’s important to consider how the relationship operates on a day-to-day basis:

1. Control

The greater the company’s control over individuals, the more likely they are to be considered employees. Are you deciding when, where, and how they work? If so, they’re likely not self-employed.

2. Integration

The more integrated they are into the company, the more likely they are to be considered an employee. Are they part of your team, required to use your branding, attend meetings, and follow company policies and procedures?

3. Mutuality of Obligation

Are you obligated to provide work? Are they obligated to accept the work you offer? If so, this would indicate an employment status.

4. Personal Service

Is the individual required to perform the duties personally rather than having the right to send a substitute?  This is a characteristic typically associated with employment.

5. Financial Risk and Independence

The more financial risk an individual bears, the more it will indicate self-employed status. Are they using their own equipment, obtaining their own insurance, invoicing you, and handling their own tax?

To summarise, the more “yes” answers to the first four, and “no” to the last, the more likely you’re dealing with an employee or a worker and not a contractor.

So What Should You Do?

Assess the relationship honestly
Don’t rely on titles, look at how the role actually operates on a day to day basis. Use legal guidance or a checklist to help.

Put it in writing
Always issue the correct employment documentation which clearly reflects how the relationship operates in practice.

Provide a safe working environment
Think of rest breaks, access to toilets and water, and protection from excessive hours, these aren’t just “nice to haves”; they’re legal requirements. You have a duty to provide a safe working environment for all types of workers.

Budget for compliance
Proper contracts might cost more up front. But compare that to a tribunal claim, regulatory fine, HMRC fines and interest, and the reputational hit of being the next Glastonbury scandal.

The Encore: A Better Way to Power Events

In the post-pandemic world, festivals and live events face tighter margins than ever. But cutting corners on employment compliance is a false economy. The events industry depends on a passionate, skilled and often overworked workforce, treating them properly isn’t just the law, it’s good business.

If you’re a founder organising an event, outsourcing to an agency, or even hiring ad-hoc help for the summer season, take a moment to check your contracts. Because while you may not be the headline act, you’re responsible for the whole show.

Get in touch with Becci Collins if your employment contracts need reviewing.

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

 

 

 

 

 

How to Get Disqualified as a Director

Posted on: June 27th, 2025 by Alanah Lenten

Fancy having your name proudly listed on the Companies House Register of Disqualified Directors? No? Didn’t think so.

But if, hypothetically, you did want to ruin your entrepreneurial reputation, be barred from running a business, and have your conduct investigated by the Insolvency Service, then you’re in luck – we’ve got the perfect guide to getting disqualified as a company director. Be aware: it’s not glamorous, it’s not clever, and it could leave you out of business (and pocket) for up to 15 years.

What Is Director Disqualification?

Director disqualification is a legal order made under the Company Directors Disqualification Act 1986 that bars individuals from acting as a company director or even being involved in managing a company, for a set number of years. You don’t have to hold the title of “Director” for it to apply, either. If you’re effectively acting as one, you’re fair game.

The Insolvency Service, usually tipped off by insolvency practitioners, take the lead in investigating misconduct and seeking disqualification orders or voluntary undertakings – their outcomes report noted that in 2024-25 a whopping 1036 directors were disqualified (736 being from Covid Loan abuse).

This report serves as the inspiration for this article;  it’s not actually about how to get yourself banned from boardrooms, it’s about how to avoid it. Because knowing what not to do as a director is just as important as knowing what to do. And if you’re a founder, entrepreneur or startup director, understanding these pitfalls could save your business… and your reputation.

8 Fast-Track Ways to Ruin Your Boardroom Career

If you’re looking for a masterclass in what not to do, here are some sure-fire ways to end up disqualified:

1. Bounce Back Loan Abuse
Overstating your turnover or splurging the funds on a privately owned Tesla instead of your company? That’ll do it. This is currently the number one reason for disqualifications, often carrying no less than a 7-8 year ban, even for minor slip-ups (ouch!).

2. Fraudulent Transfers
Stripping your company of assets to keep them out of reach from creditors is a fast track to the naughty list.

3. Wrongful Trading
Continuing to trade while your company is insolvent (and harming creditors in the process) shows unfit conduct.

4. Ignoring the Books
If your accounting records are in worse shape than your inbox on a Monday morning, that’s a red flag. Failing to maintain proper books is a serious offence.

5. Ghosting Companies House
Not filing your accounts or returns is a no-no. It signals to regulators that something is being hidden, and they tend to investigate accordingly.

6. Dodging Tax
Not filing tax returns or fairly paying tax? HMRC will notice. So will the Insolvency Service. Enough said.

7. Going Off the Grid Post-Insolvency
Once your company enters a formal insolvency process, failing to cooperate with the appointed insolvency practitioner won’t go down well.

8. Peddling Tax Avoidance Schemes
Promoting dodgy tax avoidance schemes is a good way to go from “director” to “defendant”.

How Long Could You Be Barred?

Depending on the severity of the offence, disqualification spans:

  • 2–5 years for relatively serious offences.
  • 6–10 years for more significant misconduct.
  • 11–15 years for truly egregious cases.

In some cases, you can reduce this period with a voluntary undertaking, but be aware- accepting one could be interpreted as an admission of liability, especially if there’s a whiff of criminal conduct involved.

The Cost of Being Unfit

Beyond the obvious reputational damage and business disruption, a disqualified director can face compensation orders, be named and shamed online, and be banned from any business activities involving company formation or management. Further, well drafted Directors’ Service Agreements will contain a clause which states that disqualification as a director can result in the termination of employment, without notice. Therefore, not only may you face hefty fines, your income may also cease. 

So, How Can You Be a Good Director?

Here’s the good news: avoiding disqualification is relatively straightforward if you follow the rules

  • Stay transparent, and don’t treat your company as your personal piggy bank.
  • Understand and uphold your fiduciary and statutory duties.
  • Keep good financial records.
  • Act responsibly if your company is in financial difficulty.
  • Ask for professional advice early.

Think of your directorship like driving a high-performance vehicle. You don’t need to know every engine part but you do need to keep it roadworthy, fuelled, and headed in the right direction.

Final Thoughts

Want to protect your business and stay on the right side of the law? Then steer clear of the disqualification danger zones and keep your entrepreneurial journey firmly on the road.

Being a director isn’t about dodging disqualification, it’s about earning the trust to run a company and growing something that lasts. If you’re unsure about your responsibilities, there’s no shame in getting professional advice. There is shame in pretending you know best while heading for a 15-year ban. Contact Lefteris Kallou to gain clearer understanding of your fiduciary duties.

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

 

Burberry, Budgets & Booms: What’s Really Going On in the UK Economy

Posted on: June 27th, 2025 by Alanah Lenten

Let’s be honest, not every headline feels relevant when you’re running a business. But behind the buzzwords and big numbers are signals that matter for your margins, your teams and your future plans. We’ve dissected some of the headlines to help you understand what’s going on and how to respond with confidence.  

What’s The Scoop? 

Retail rebounds (sort of) 

The UK retail sector has seen a 7% year-on-year increase in total retail sales in April, well above the 12-month average growth of 1.4%. Warmer weather, Easter spending, and a recent 0.25% interest rate cut by the Bank of England. This sounds positive, right? However, rising employer taxes and national insurance contributions which came out of the Autumn 2024 budget could weigh on retail profits despite higher revenues.  

Luxury market hit hard

Burberry, the UK’s flagship luxury brand, has announced it’s cutting 1,700 jobs globally following a £66m pre-tax loss. Despite the prestige, even heritage brands aren’t immune to recession fears and the knock-on effects of slowing global demand. If a brand like Burberry is recalibrating, smaller high-end brands may need to follow suit – quickly and strategically.  

UK leads the G7 but for how long?  

The UK is currently the fastest-growing economy in the G7, with 0.7% GDP growth in Q1 2025, surpassing expectations. This growth has been driven by strong performance in services, retail, and advertising (such as those on the FEBE Growth 100 list), supported by four interest rate cuts since last July. Again, this sounds positive. However, economists warn that this surge may not last and upcoming tax hikes and international trade uncertainties  (ahem, tariffs!) could undermine progress. 

What Should You Be Doing to React? 

Retail:  

  • Capitalise on the retail sector’s momentum and consumer confidence whilst it lasts by aligning product offerings with seasonal demand and spending habits. 
  • Budget carefully and price strategically. Factor in rising employer taxes and national insurance contributions that could erode profit margins even as revenue grows.  
    Questions on  tax planning and tax-friendly business structures? Get in touch with our Tax specialist, Leigh Sayliss.  

Luxury Market:  

  • Don’t wait for downturn to hit. Global economic challenges are on the horizon and changes must be made now to react to this in order to weather the storm for businesses in luxury and high-end retail – changes can feel brutal but essential.
    Our     Employment team can help navigate tough decisions with clarity. 
  • Take local legal advice if you have plans to open an international branch or enter a partnership with someone out of the UK.
    Contact our Head of International, Ricardo Geada, who will know the right people for your needs.  

UK Economy in G7:  

  • Take stock: What’s working? What’s not? What new opportunities are there for you and your business whilst also planning for incoming tax changes and international trade uncertainties? 
  • Stay informed about upcoming tax changes and trade agreements that could impact business operations. New markets may be opening  but so are new risks. We’re here to help you balance ambition with foresight. 
  • By staying agile and informed, businesses can position themselves to thrive in a rapidly evolving economic landscape.
    If you’re in retail, luxury, or impacted by the broader economy and want to explore how these changes affect you, please reach out to Charlotte Hamilton.  

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

How the UK Can Back Crypto Innovation with Action

Posted on: June 27th, 2025 by Alanah Lenten

We now find ourselves at a critical crossroads in the evolution of financial technology. While the UK once made bold proclamations about becoming a global crypto asset hub, real progress has stalled, and the lack of regulatory clarity is beginning to weigh on investment, innovation, and job creation. In an era where blockchain, artificial intelligence, and quantum computing are converging to reshape global economies, the UK must act decisively or risk falling behind forward-thinking jurisdictions such as the US, Singapore, and the UAE.

While recent developments from the Financial Conduct Authority (FCA) – including the publication of a crypto roadmap and the UK Treasury preparing draft legislation to provide clarity on qualifying crypto assets, including stablecoins, which will fall under the remit of the Financial Services and Markets Act 2000 –  indicate progress, the pace of change remains too slow.

The UK has a golden opportunity to define a forward-looking, globally competitive framework for digital assets, but this demands bold leadership, joined-up policymaking, and a clear national strategy that puts emerging technologies at the centre of economic growth. In a joint letter to government, Matt Green, Head of Blockchain and Digital Assets and Technology Disputes at Lawrence Stephens, together with leading industry bodies, outlined a series of proposals to help the UK realise this potential. The article below explores their key recommendations in more detail.

Laying the groundwork for growth

According to the FCA, around 12% of UK adults, approximately seven million people, now own digital assets. Despite this, only 8% of global venture capital funding in the space went to UK-based firms in the past year. The US, by comparison, attracted a staggering 76%. If the UK is serious about becoming a leading force in the digital economy, it must close this investment gap with urgency.

At present, a fragmented approach to digital asset regulation is inhibiting progress. A new wave of global strategies led by national governments eager to capture the economic benefits of blockchain and Web3 is leaving the UK at risk of playing catch-up. From Dubai to Washington, governments are launching clear action plans, appointing envoys, and rolling out incentive programs to attract high-potential digital firms.

A clear path to digital leadership

That’s why a coalition of leading trade bodies, including the UK Cryptoasset Business Council, Global Digital Finance, The Payments Association, techUK and Lawrence Stephens has come together to call on the Government to implement a clear digital asset strategy. Representing both pioneering start-ups and established multinational firms, we believe the UK can and should be at the forefront of responsible innovation.

There are four key steps the UK can take to realise this ambition:

1. Appoint a blockchain special envoy

Just as the US government has appointed a high-profile blockchain envoy to spearhead policy alignment and investment attraction, so too must the UK. A dedicated envoy would serve as a strategic bridge between government, regulators, and industry, driving consistency, championing innovation, and positioning the UK as a premier destination for blockchain-related investment. The envoy would also play a crucial global role, representing the UK on the international stage and securing collaboration opportunities with leading digital nations.

2. Launch a government-led Digital Asset Action Plan

Like the coordinated approach seen in artificial intelligence, the UK should implement a comprehensive strategy for digital assets and blockchain technology. This could include a white-glove concierge service to support scale-ups, integration of blockchain into public services, and the development of a globally competitive tax and investment landscape. Targeted incentives would enable the UK to attract and retain the world’s most promising digital firms, ensuring job creation and long-term economic benefit.

3. Recognise the convergence of emerging technologies

Emerging technologies rarely operate in silos. Blockchain, quantum computing, and AI are increasingly interdependent, and together they promise to redefine industries from finance and defence to supply chains and public healthcare. For example, blockchain can add transparency and trust to AI systems, while AI can optimise blockchain functionality. These technologies working in harmony offer the potential to deliver transformative public services, from decentralised property registries to secure NHS data transfers. The UK must actively foster collaboration across these disciplines to maximise impact and support innovation at scale.

4. Create an industry-government engagement forum

Effective policymaking must be informed by those at the forefront of innovation. To that end, we propose the creation of a high-level industry-government-regulator taskforce, designed to ensure close collaboration and continuous dialogue across sectors. This would enable agile policymaking that reflects the rapidly evolving nature of digital technologies and ensures the UK remains ahead of the curve.

Unlocking long-term economic value

The potential economic impact of digital assets and blockchain is immense. A recent PwC report projects that blockchain could add £57 billion to the UK economy over the next decade. Globally, it could boost GDP by £1.39 trillion by 2030. Sectors like logistics, finance, health, and public services stand to gain the most, particularly through improved transparency, faster data transfers, and streamlined transactions.

Meanwhile, the UK’s legal infrastructure is increasingly ready to support these developments. The Law Commission’s recent endorsement of a new ‘third category’ of property to account for digital assets is a significant step forward, strengthening the legal foundation for cryptoassets, tokenised securities, and carbon credits. In doing so, the UK is proving it has both the legal and technological credibility to lead on digital assets.

Now is the time to act

The UK’s digital asset economy is already the largest in Europe, with £172 billion in on-chain transactions last year. Yet without bold, strategic intervention, we risk being eclipsed by more proactive nations. As innovation accelerates and geopolitical dynamics shift, the UK must seize its moment.

With the right leadership, a coherent regulatory environment, and an ambitious vision for innovation, we believe the UK can cement its status as a global hub for digital assets and blockchain technology.

Now is the time to move from ambition to action.

If you have queries on the above, please contact Matt Green. 

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

Why Founder-Led Businesses Are Reshaping the UK Economy

Posted on: June 27th, 2025 by Alanah Lenten

The FEBE Growth 100 2025 list is out, and it’s every bit as inspiring as we hoped. Packed with the UK’s fastest-growing, founder-led businesses, this year’s line-up is a celebration of bold ambition, fresh thinking and real entrepreneurial grit.

At Lawrence Stephens, we couldn’t be prouder to be part of the FEBE story. As a founder-led law firm ourselves, we know exactly what it takes to build something from the ground up. It’s messy, energising, terrifying and brilliant all at once. That’s why the FEBE Growth 100 resonates with us, it’s a badge of honour for those who’ve pushed boundaries and made things happen.

What Is FEBE and Why It’s Transforming the UK Founder Community?

If you haven’t come across FEBE yet (For Entrepreneurs, By Entrepreneurs) it’s the brainchild of John Maffioli, Ex-EY and the most enthusiastic man you’ll ever meet; and his wife and co-founder Charlotte Quince. FEBE exists to celebrate and support founders, not just in business, but in all the behind-the-scenes moments that come with growing something meaningful.

John often describes a FEBE event like being ‘A night out with your mates’. FEBE is built on community, honesty and camaraderie.  It’s about learning from the highs and the not-so-pretty lows.

Lawrence Stephens x FEBE: A Shared Vision for Supporting UK Founders

So why does our relationship with FEBE work so well? Because we get it. We’re also founder-led. We’ve lived the long days, the hard choices, the growing pains. And just like the businesses in the Growth 100, we’ve worked hard to scale up without losing our identity. In fact, if we weren’t a partner, rumour has it, we might have made the list!

Many of our clients are privately owned, founder-led businesses too, so we have a natural empathy for the pressures and possibilities that come with that territory. Whether it’s legal support on a new funding round, navigating a tricky people issue, or just being a sounding board, we back founders with the same drive and energy we see in ourselves.

Like FEBE’s ethos we pride ourselves on celebrating progress, embracing imperfection and connecting founders.

Turning the Spotlight on John Maffioli

Usually the one asking the questions, we recently flipped the script on FEBE founder John Maffioli who let us ask him a few.

Alanah: What inspired you to start FEBE?

John: We wanted to create the UK’s best founders club – a place where Britain’s top founders could come together, support one another, and build genuine friendships. Being a founder can be incredibly hard and lonely. FEBE was born out of shared experience. We knew there were so many brilliant founders across the country doing amazing things, but often in isolation. So we set out to build something that not only celebrates them but also helps them by creating a community where they can connect, share, and grow together. It’s not just about business, it’s about building real relationships with people who get it. That’s what inspired us, and that’s what keeps driving us: creating a space that’s meaningful, supportive, and rooted in the realness of entrepreneurship.

Alanah: What’s the hardest part of being an entrepreneur?

John: It is impossible to switch off. When you’re growing a business it is everything and all consuming.

Even if you’re supposed to be spending time with family, or trying to sleep, there’s a constant mental to-do list ticking away, and it’s impossible to create real separation between work and life. It’s not just about long hours; it’s the emotional investment. As a founder you carry the weight of every decision, every setback, and every missed opportunity. Even when things are going well, there’s always the next challenge to think about. The pressure to keep everything moving means you rarely give yourself permission to properly rest. And when your identity is so tied to the business, switching off can feel almost irresponsible – even though you know it’s exactly what’s needed sometimes!

Alanah: What’s your favourite part of being an entrepreneur?

John: The highs are unlike anything else. The good news and the successes are incredible and mean so much because it’s so personal. When something goes well it hits differently because you know exactly what went into getting there. The late nights, the risks, the doubts – all of that makes the successes feel so much more meaningful. There’s no safety net, so when it works, it’s not just business success, it’s personal. Those moments of progress or recognition feel huge. They remind you why you started in the first place.

Thanks John! Spoken like a true entrepreneur  and a reminder of why FEBE matters so much.

What’s next for UK founder-led businesses? 

Founder-led businesses are doing more than just scaling, they’re redefining what success looks like in the UK economy. The calibre of companies featured in the FEBE Growth 100 2025 list speaks volumes: these are businesses that are disrupting sectors and building brands with purpose and agility. From tech innovators and e-commerce disruptors to creative powerhouses and wellness challengers, these founders are not only growing fast, they’re leading with vision, values, and a deep connection to their customers and teams. It’s this blend of emotional commitment and commercial clarity that’s fuelling a new wave of economic dynamism across the UK.

At Lawrence Stephens, we’re proud to stand shoulder to shoulder with FEBE and the incredible community it champions. As a founder-led law firm, we understand the grit and graft it takes to build something from the ground up – and we see that same spirit reflected in our clients every day. Our partnership with FEBE is about more than just sponsorship; it’s a shared ethos. Together, we’re backing founders with the support, insight and authenticity they need to thrive and we’re excited to play a part in shaping a future economy powered by people who genuinely get it.

If you’d like to find out how else we are supporting founders please get in touch with Alanah Lenten.

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens

Thinking of Selling Your Business? Why the Exit Isn’t Always the Fairytale Ending – And What You Can Do About It

Posted on: June 27th, 2025 by Alanah Lenten

Founders often fantasise about their exit moment. The final deal. The payout. The celebratory glass of champagne. But for many, that long-anticipated milestone can feel more like shouting, “I’m an owner – get me out of here!” than stepping into happily ever after.

At Lawrence Stephens, we’ve worked with enough founders to know that for them, this  moment is rarely as clean or triumphant as we make it look on paper. The due diligence process alone can feel like a mental obstacle course, one where founders are asked to revisit every decision, every contract, every risk, while simultaneously letting go of the business they’ve poured their soul into.

And it’s not just the paperwork that makes selling-up challenging, there’s a deeply human side to it that often goes unspoken. We spoke with Lucy Scarlett, founder and coach at Lumini, who specialises in helping entrepreneurs prepare emotionally and mentally for what comes next. She shared insights into the 3 most common feelings her clients experience and how they can navigate them.

The Invisible Side of the Exit

1. Loss of identity
“This business has been my baby.”
We hear it all the time. Your company has been more than just your job – it’s been your title, your purpose, your structure, your story. So what happens when it’s no longer yours? Without that title to define you, the age-old question “Who am I now?” can creep in, bringing emptiness, anxiety and the dread of facing that void again.

2. Survivor’s guilt
Once the deal is done, it’s natural to worry about the people left behind.
“Did I abandon my team?” or “Are they really okay under new leadership?”
These kinds of thoughts are more common than you might think. Lucy explains that some founders even find themselves quietly checking in long after they’ve left, leading to sleepless nights or a temptation to micromanage post-exit.

3. The exit that isn’t quite the dream
Even the smoothest sales come with unexpected twists: tax surprises, legal constraints, new leadership culture clashes. The version of the exit you told yourself in your head doesn’t always match reality. That doesn’t mean it wasn’t the right move but it does mean you may need space to process and recalibrate.

So, How Can Founders Prepare?

Lucy’s advice to clients is simple but powerful: You are not your business.
It’s a mindset shift that can take months to accept. After all, when your daily purpose, income and impact are all wrapped up in something you created from scratch, it’s hard to imagine life without it. But the earlier you start to separate who you are from what you’ve built, the smoother your exit will feel.

That means:

  • Getting clear on your values and what truly drives you.
  • Giving yourself permission to grieve the business (yes, really).
  • Planning your post-exit chapter with as much energy and vision as you did your first pitch deck.

She recommends creating a clear transition checklist of everything you can control to remind you you’ve set the business up for success, and remind yourself that part of building something great is knowing when to step away.

Whether your next step is launching something new, stepping into advisory work or simply taking a well-earned pause, it’s important to remember: you get to choose the shape of your next chapter and that’s where Lucy can support.

What We See That Works

At Lawrence Stephens, we’re big believers in the full exit picture. We’re here to handle the legal details, the negotiation curveballs, and the structural finesse that gets deals over the line. But more than that, we’re human. We know how big this is for you.

We’ve helped founders manage complex exits, protect what they’ve built, and move on with clarity and confidence. We’ll support you through the parts you dread and make sure the deal reflects your value.

A Final Thought

If you’re thinking of selling, or even just entertaining the idea, take a moment to reflect. Not just on your share price or growth curve – but on you. How do you want to feel once it’s done? What do you need in place, practically and emotionally, to make that happen?

Selling a business isn’t just a transaction. It’s a transformation. And with the right people by your side, it can be a powerful one.

If you want to find clarity on what your next step looks like, feel free to drop Lucy an email at Lucy@luminicoaching.com— or if you’d like support navigating the legal process, contact Charlotte Hamilton. 

Read the other articles in this edition here : The Fineprint – Edition 1 – July 2025 – Lawrence Stephens