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Keeping Your Business Safe While It Grows
What would happen to your business if you suddenly started to stir your tea with your sock?
As a business owner have you ever thought about the impact on your business if you suddenly ‘lost capacity’?
It doesn’t have to be as bizarre as finding yourself actually stirring your tea with your sock, but it could mean that you, or one of your shareholders, find yourself in a position where you are no longer capable of making your own decisions. How would that affect the day-
In our youth we spend a lot of time asking the question “why”? As we mature we tend to think more in terms of “what if”? Have you ever considered these ‘what if’ scenarios for your business?
These are just some of the questions to consider when thinking about the safety and continuity of your business, and, as a limited company, this should also include having a robust Shareholder Agreement in place.
At the very least our conversation would go something like this: “Just in case anything should happen if you suffered a loss of capacity, and weren't able to make decisions about the business, who should we talk to and take instructions from?” It needs to be someone who you believe could do the right thing in your absence.
This is a conversation we are currently having with our clients surrounding "Lasting Power of Attorney for Business" and also "Shareholder Agreements" and "Business Trusts", to put plans in place now to ensure business continuity for the future should the worst happen.
As Barrister Intermediaries with the Legal Services Guild we can work with you to find the right solution, personalised to the needs of your business.
For more information please contact either:
Brenda Beveridge at
Jan Cook at firstname.lastname@example.org
For more information on how Jan and Brenda, as members of the Legal Services Guild, can help you and your business click one of the buttons below to visit their website