Women vs business recovery – a legal guide for female entrepreneurs

Women vs business recovery – a legal guide for female entrepreneurs

Podcast

Women vs business recovery – a legal guide for female entrepreneurs

Podcast

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Lucinde emphasises the importance of recognising that female entrepreneurs often operate outside the mainstream business industry. Many women start businesses without fully understanding the available business and recovery options, the processes involved in business recovery, or the consequences of their business and negotiating decisions.

Lucinde stresses that access to practical and financial resources is crucial, as it enables entrepreneurs to obtain the correct legal and business advice, both when setting up a business and throughout its operation.

Lucinde also highlights the necessity for business owners to thoroughly understand the contractual framework that will govern their business relationships. This understanding is vital because there is often an imbalance in negotiating contracts, regardless of whether it is a female or male entrepreneur. For example, interest or penalties payable in the event of non-payment in terms of an agreement, or the consequences of exiting an agreement if the business relationship doesn’t work out. Understanding these details upfront is crucial—never sign a contract just because it seems short or straightforward.