A star of a hit TV series has moved closer to dominating the industry with one of his leading ventures.

 A law firm backed by former Dragons’ Den star James Caan has been granted an alternative business structure (ABS) licence.

 Caan’s investment vehicle Hamilton Bradshaw had invested an undisclosed amount in Excello Law in January 2013, in a mission to become the leading supplier of legal services to the SME sector.

 The ABS licence, listed on the SRA’s register of licensed bodies, was granted and became effective on the 9th April 2014. Bisnought is named as Head of Legal Practice, and of Finance and Administration.

 The licence will allow the firm to bring non-lawyers into the management team and and also attract further external finance.

 A strategic advantage in attaining an ABS licence is that it improves access to funding for firms seeking external capital. Excello moved into the international arena by announcing the launch of Excello Law Sweden.

 Founder George Bisnought said the virtual firm will now promote former PwC partner Jon Harrison to its board.

 He said: “We all know the importance of good financial governance for law firms and Jon’s appointment as financial director of Excello Law is an important strategic step for us.”

 At the time of Caan’s investment in Excello Law, Bisnought outlined the difference it could make to the business.

 He said: “Through this alliance we can build upon our commitment to businesses on a national and global scale.

 “The wealth of knowledge and expertise available to us as part of James Caan’s portfolio will enable us to develop a legal practice which offers SMEs a legal service that is unrivalled in the market place.”

 Excello Law, a full-service commercial firm targeting the SME business market, does not have any offices. Lawyers work from home, at clients’ offices or satellite offices, keeping overheads to a minimum. Its website lists 37 lawyers that work across a range of commercial services.

 Listed amongst the services is commercial property. Its lawyers are able to advise on a wide variety of property issues, including:

-              Acquisitions and disposals;

 -              Development transactions;

 -              Leases;

 -              Other landlord and tenant matters;

 -              Rent reviews;

 -              Dilapidations;

 -              Licences to assign, sub-let and alter; and

 -              Planning Law.

Founded almost five years ago by Managing Director George Bisnought, Excello became the second legal practice to join forces with the ex-Dragons’ Den star.

 Bisnought had previously said its market research found SMEs fearful of the cost of legal services and confused by the choice of providers. “This highlighted a need for a national law firm, devoted to SMEs, which can offer clear, efficient and cost effective advice. As a result, we have built Excello Law firm to meet the needs of SMEs head-on.”

 Hamilton Bradshaw also invested an undisclosed sum in Staffordshire-based Knights Solicitors in June 2012. Caan has previously spoken of his surprise at the culture in many law firms where profit was seen as a ‘dirty’ word.

 Speaking at the start of the partnership, Caan, the Chairman of Hamilton Bradshaw, said: “I have been building and developing businesses for over 30 years and Excello Law demonstrate quality business values that I look for in all the firms I partner with. The legal services market is evolving and Excello is embracing these changes by providing a simple, cost-effective legal service.

 “I believe that SMEs are absolutely key to the UK economy recovery and Excello are setting the standard for other firms in their sector to adapt and stay ahead of their competitors.”

 The Solicitors Regulation Authority (SRA) currently has 267 alternative business structures (ABSs) listed on its register, while the Council for Licensed Conveyancers has a further 41, making 308 in all.