‘eLegl’, an online legal resource centre for entrepreneurs.

Estimated read time 2 min read

South African business owners face numerous challenges in the entrepreneurship landscape, including legal aspects such as navigating complex legal frameworks and ensuring compliance with regulations. A survey by SME South Africa found that 88% of respondents needed funding-related support and a better understanding of laws and regulations. Legal challenges can pose significant risks for entrepreneurs, threatening their growth and stability.

M. Prem Attorneys, a local law firm specializing in corporate advisory and business law, has introduced ‘eLegl’, an online legal resource centre for entrepreneurs. The platform was designed to empower entrepreneurs in overcoming these legal obstacles. Founder Monisha Prem, who has worked with growing businesses for over 20 years, observed repetitive patterns and costly mistakes in applying law and general risk management.

Common challenges faced by entrepreneurs include establishing strong fundamentals, laying a solid foundation, and implementing a solid structure using law as risk prevention. Contract reading, understanding, and negotiation are common legal pitfalls entrepreneurs fall into, and many entrepreneurs are uncomfortable with contracts and miss opportunities to make more money or face unknown costs or risks.

Prem founded eLegl to bridge the gap between legal expertise and entrepreneurial success. The platform’s innovative legal academy, described as a “legal boot camp for entrepreneurs,” is tailored to cater to the unique needs of business owners and provides practical remote-modules. Price packages vary according to an entrepreneur’s requirements.

The main objective of eLegl is to simplify commercial and corporate legal frameworks and transfer this knowledge affordably to entrepreneurs. The platform also provides tools such as the legal health-check, document models, and risk management frameworks to empower entrepreneurs to implement law into their businesses at an early stage, positioning the business for high growth rather than facing potential losses due to missed loopholes.

In essence, eLegl gives entrepreneurs access to legal guidance from trusted attorneys and breaks down the barriers of the complexity of commercial and corporate law. Prem encourages entrepreneurs to consider law strategically rather than merely at the dispute or money recovery stage, stating that law is not the solution as a last resort but rather as a business starting point.

By: Yamkela Mdaka

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