Consider the day you have two offers on the table. Either to sell your business for a huge amount of money, or to sign a new client contract and double your turnover?
Your business partners want to sell. They’re ready to retire to live a life of luxury and leisure.
You want to keep the business. You want to be there as it grows, to experience all the adventures that this new expansion will bring.
So what happens now? How do you decide what to do?
This is where that boring bit of paperwork comes in.
You’ve foreseen that this may happen and prepared. You’ve an agreement in place for what would happen under different circumstances regarding your business. At very least – and crucially – you have an agreement to how you will make your decisions when these crunch times come.
The name of this boring paperwork … for limited companies it’s the director agreement. For partnerships it’s the partnership agreement.
Would your business benefit from one?