23 Nov 2015
(MEDIA RELEASE) Rajah & Tann Singapore launches new practice group for start-ups and SMEs
SINGAPORE, 23 November 2015 – Rajah & Tann Singapore has launched a new practice group, Business Fundamentals, to serve start-ups and Small and Medium-Sized Enterprises (SMEs) that require reliable legal advice in deal-making and dispute resolution as well as strong documentation customised for their size and growth stage.
Business Fundamentals will provide a single point of contact catered to clients in start-ups and SMEs at the early stages of their business lifecycle, said Jonathan Yuen, the firm’s partner who heads the new practice group.
Mr Yuen said: “The practice group aims to help clients build their fundamentals right. We’ve heard stories of how businesses have failed or entered into disputes because of weak documentation or relied upon “relationships” to form the basis of their business operations.
“While most businesses are aware of the importance of establishing clear documentation and a sound legal framework in their operations, they also face competing demands in managing, marketing and growing their business all at the same time. This new service is therefore designed to counter these pain points by offering a spectrum of growth-stage appropriate solutions to give business owners the desired flexibility to decide on the legal services of their choice.”
Mr Yuen said that as the business of the SMEs grows, they can then tap into the full suite of legal services that Rajah & Tann Singapore provides and strengthen their documentation and processes, as appropriate.
SMEs are an important part of Singapore's economy. They make up 99% of Singapore’s companies, employ 70% of our workforce and contribute 50% of Singapore’s GDP, according to SPRING Singapore.
Rajah & Tann Singapore is the first of the big firms to set up a dedicated practice group for SMEs, a move which underscores the firm’s culture of pursuing innovative and out-of-the-box approaches to serving the business community. The firm recently set up R&T Resources Asia, a flexible insourcing service to provide experienced lawyers to companies who need in-house counsel on short-term contracts and project-specific work. Four years ago, Rajah & Tann Singapore launched its Integrated Regulatory Practice Group – the first for a local legal firm in Singapore. The integrated practice group has been set up in response to the growing complexity of regulations that govern businesses as a result of globalisation and cross-border activities.
Rajah & Tann Singapore is one of the largest full-service law firms in Singapore and South East Asia, with market leading practices in dispute resolution, international arbitration, shipping, insolvency, restructuring, corporate & commercial, amongst others. It is one of the region’s most highly regarded law firms, with international legal journals and surveys consistently rating the firm and several of its lawyers as among the best in their areas of practice.