Recent research amongst British Chamber of Commerce members showed that only 4% of the business owners questioned had any shareholder protection in place.
Amid the time-consuming, complex business of running a company, unfortunately very little attention is paid to what might happen if a shareholder dies, or becomes seriously ill, and the above figures bear this out. To a point this is understandable, as business owners primary focus is the success of the company. Sadly though success can quickly and easily turn to failure if a business owner dies or is seriously ill.
So who should be responsible for raising the awareness of what can go wrong ? To my mind, this should rest with the company’s professional advisers - be they financial planner, accountant or solicitor, after all each one has a vested interest in a company’s continued success.
A business comprised of major shareholders will be aware that the long-term success of their […]