Business Management - Everything you need to know:
Making a Will is something that lots of people at least think about doing (although apparently some 60% of people haven’t made one yet!).
And making a Power of Attorney is something a lot of people have at least thought of.
But what about your business?
It is important that, whether or not you have prepared at home, you should prepare so that your business will not suffer if anything happens to you.
There are very important decisions and legal documents that should be set up as part of business planning. We would advise that you contact your Solicitor and other advisors such as your Accountant and financial advisor, and make an appointment to discuss this. Involve your business partners and family. Take the time to ensure that your plans are fully laid out and the expectations are clear in case this needs to be put into place in the future.
What if you can’t make decisions anymore – maybe through illness, incapacity, or just a holiday? Who will carry on the business in the short and long term? Don’t let your business suffer – learn more here about to be prepared.
What will happen to your business after your death? Who will take the business forwards? Make sure your family, staff, partners and anyone you need to look after are all protected by planning for the worst.