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Directors’ responsibilities - Click To Read Article
Company directors are responsible for the management of their companies. But they act on behalf of the owners, and must consider their interests in everything they do. They also have responsibilities to the company's employees, its trading partners, and the state.
As a director, you need wide powers to help the company become a strong and profitable business. You face serious penalties if you abuse those powers, or if you use them irresponsibly.
This briefing covers:
• Appointing company directors.
• Directors' powers.
• Directors' responsibilities.
• Penalties for misuse of position.
• How to protect yourself.
Forming a Business - Click To Read Article
Whether you are forming your first business or adding to an existing one, it pays to set it up correctly. Choosing the wrong business structure will expose you to unnecessary costs and risks later on. Failing to address the key practical issues can result in you falling out with your business partners.
This briefing focuses on:
* The relative advantages of trading as a limited company, a sole trader or a partnership.
* The mechanics of setting up a business, to comply with the law.
* Choosing a name for your business.
* The most important practical issues - agreeing the strategy and key operational and personnel issues with those you go into business with.
Renting premises - Click To Read Article
Compared with purchasing premises, renting is flexible and ties up a minimal amount of capital. Most businesses rent their premises, either through a lease or a licence. However, be on your guard. Property law can be complex and verbal agreements do not count. The golden rules are not to assume anything, and to get everything in writing.
This briefing focuses on the terms under which you occupy rented premises. It covers:
◆ Basic points to check.
◆ The main features of a licence.
◆ The key terms in a lease.
◆ How to negotiate a deal.
Buying premises - Click To Read Article
Buying business premises gives you control over one of your major financial investments.
As an owner-occupier, you can choose to stay in the premises for ever. If need be, you can raise money through selling, taking out an additional mortgage or letting part of the premises.
Buying a freehold (or long leasehold) property is one of the most important commitments you are likely to make. It is vital to get it right.
This briefing covers:
◆ The pros and cons of buying premises.
◆ What to look for in a building.
◆ The potential liabilities and costs for you.
◆ Negotiating a good deal.
Buying a Business - Click To Read Article
Buying a business can be a big step forward, or it can turn out to be disastrous. This briefing assumes that you have already found a suitable business (the 'target business').
It explains how to complete the purchase of the target business, including checking what state the business is really in.
The main pitfalls tend to be similar, regardless of how large the target business is.
The briefing covers:
* Approaching the target business.
* Completing due diligence.
* Negotiating the purchase.
* Settling the purchase once it is completed.
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