We all know that Covid-19 turned the travel industry upside down last year. Despite this, however, at Travlaw we are seeing a number of new travel businesses emerging so that when travel re-starts properly (which it will on a large scale!) they are ready to meet the expected demand from the public for a long awaited get-away. It makes sense, given that most start-ups are able to keep overheads low whilst they go through the initial steps to set up the business. There is then very little need to incur a great deal of expenditure whilst they watch and wait for the best time to properly launch.
Given the level of interest we have seen in the world of travel start-ups, our top team of Ami Naru (Partner and Head of Employment), Emma Shakespeare (Senior Associate, Head of Commercial and Corporate Governance) and Amanda Firth (Associate) joined forces with Alan Pattison of Travel Risk Professionals and Matt Purser of TTC to put together a webinar aimed at businesses about to start up, those who are new to the industry and those which have begun operating but are still trying to establish themselves. This webinar provided valuable insight as we talked through the main things that new start-ups need to think about. We also had a guest-speaker, Emily Woolard of Tartan Road from a travel company that will describe their own experience from their time trying to establish their business. The main points covered were;
- The Importance of Contracts – Ami talks through what to consider when looking to employ staff.
- Corporate Governance and IP Considerations – Emma takes you through what to think about in terms of your funding, your supplier, service and shareholder agreements, as well as protecting your brand.
- Key Commercial Contracts – These are vital, and Amanda can help you identify which ones are essential to get right from the off
- Types of Insurance – Alan Pattison of Travel Risk Professionals can help you wade through all the considerations when choosing your insurance options.
- Is Now a Good Time to Start? – Matt Purser of TTC considers whether the aftermath of a global pandemic is actually a good time to start a travel company (no spoilers, we’ll let him explain…)