Insights

Business owners must understand the importance of ensuring the right protections for themselves and their families. 

All limited companies are subject to rules, including the Companies Act and their own articles of association. Business owners are often unaware of the effect of those rules.

How the family business responds to those factors may well determine its success, harmony and longevity.

One key aim of the Act is to improve the accuracy and quality of the data regarding companies on public registers, which will help tackle economic crime. 

A survey of regional business owners carried out by leading Black Country law firm Higgs LLP has shown that vital issues surrounding the ownership structure of their company are being ignored by the vast majority.

Once succession planning decisions have been agreed by all within the business – both individually and collectively – the next stage is to formalise those decisions.

Once succession planning decisions have been agreed by all within the business – both individually and collectively – the next stage is to formalise those decisions.