Getting your legal foundations right: a practical annual checklist
January is a fresh start. As you plan for growth, it’s easy to focus on sales and strategy, but your legal foundations are just as important for scaling with confidence. Too often, businesses leave contracts, compliance, and risk management on the “later” list, only to find themselves scrambling when issues arise.
If you’re running a growing business without in-house legal expertise, this guide is for you. Here’s a practical, actionable checklist to get your legal basics sorted for 2026, so you can get ahead of risk, empower your team, and make confident decisions all year.
1. Contract Management and Playbooks
What matters:
As your business scales, you’ll be dealing with more contracts, clients, suppliers and partnerships. Having a consistent process for managing these is essential for protecting your interests and keeping things moving quickly.
The checklist:
Do you have standard contract templates for your most common agreements (supplier, client, partnership)?
Is there a clear process for reviewing contracts before you sign them?
Does your team know which terms can be negotiated and which are non-negotiable?
Are you keeping organised records of all contracts, with clarity on who is responsible for each one?
Have you identified the key risks in your most common contract types, and do you have a plan to manage them?
Is there a process to escalate contracts for expert review when needed?
Why this matters:
Robust contract management prevents misunderstandings, supports faster deal-making, and ensures you know your obligations. It also gives your team the confidence to negotiate effectively, with less risk of unwanted surprises down the line.
Action step:
Identify your three most common contract types and create simple, standard templates for each. Make sure your team is clear on the process for handling and reviewing contracts.
2. Compliance and Governance Basics
What matters:
Depending on your business’s size and structure, there may be a range of legal obligations to consider. Getting the basics right will protect your business, support sustainable growth, and set you up for future investment or sale.
The checklist:
Are you up to date with your basic employment law obligations (minimum wage, working time, discrimination)?
Do you have processes in place for statutory requirements such as payroll records, RTI reporting, and statutory sick pay?
If you handle personal data, is your business GDPR-compliant?
Do you have policies and processes to prevent financial crime in your business (such as bribery, facilitation of tax evasion and fraud)?
Do you understand your responsibilities for health and safety, regardless of your business size?
Are there any industry-specific compliance requirements (financial services, healthcare, etc.) that apply to you?
Do you know your directors’ duties and have basic governance processes in place for your business structure?
Have you trained your team on your compliance policies and processes?
Why this matters:
Compliance isn’t just about avoiding penalties. It’s about building a business that’s fit for growth and investment, one that treats its people well and operates with integrity.
Action step:
Identify the top three areas of compliance relevant to your business. Prioritise these and make sure you have basic processes in place. You don’t need perfection, but you do need to know your key obligations.
3. Risk Assessment and Gap Analysis
What matters:
You can’t fix everything at once. A practical risk assessment helps you focus your time and resources where it matters most.
The checklist:
Have you identified the top legal risks facing your business? (e.g., contract disputes, data breaches, compliance gaps)
Do you have an idea of which risks are most likely or would be most costly if not addressed?
Have you considered scenarios such as a key person leaving, facing a legal claim, or preparing for investment or sale?
Are there any known gaps in your contracts, policies, or compliance processes?
Have you had your assessment sense-checked by someone with legal expertise, or is it based on guesswork?
Why this matters:
Prioritising based on actual risk means you make more strategic, cost-effective decisions, protecting your business without unnecessary expense or overwhelm.
Action step:
Take an hour this month to list your top three legal risks. Write them down and focus your initial efforts on addressing those.
Bringing It All Together
Getting your legal foundations right doesn’t have to be overwhelming or expensive. By breaking it down into manageable steps, contracts, compliance, and risk, you set your business up for a smoother year ahead. Start small, focus on what’s most relevant, and build from there.
Why Professional Support Matters
If you’re unsure where to begin, remember you don’t have to do it alone. With two decades of experience supporting ambitious businesses, we can help you cut through complexity, prioritise what matters, and set up practical processes that grow with you. Our support is tailored, commercial, and grounded in the realities of running a business.
Getting Started
Work through the checklist above, and don’t hesitate to reach out if you’d like support or a second opinion. Investing in your legal foundations now will pay dividends all year, and give you confidence to focus on what you do best.
This article is for general information purposes only and does not constitute legal advice. Specific legal or strategic advice should be sought separately and tailored to the particular circumstances of your business. If you would like to discuss how these issues apply to your organisation, please get in touch.
