Owner Managed Business update - May 2020
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Welcome to May's edition of Owner Managed Business update.
We have been in touch with many of our clients in recent weeks, guiding and advising them through a whole host of challenges - some new (and brought about by recent circumstances) but reassuringly many are about day-to-day issues and opportunities that can present themselves at any time.
In so many ways the opportunities and challenges faced by owned managers are the same as might be found in any business but in a number of other ways they are unique. As an owner manager you are, inevitably, used to being pulled in many different directions and used to wearing a number of different hats.
We wanted to take the opportunity to highlight, briefly, how recent global events are impacting the duties of directors in the UK - because whilst in some organisations an independent board will be answerable to the shareholders, for an owner manager that same degree of oversight may not present – but the duties you owe as a company director are no less important.
As ever, please do bear in mind that everyone's specific circumstances are different and, if in doubt, do not hesitate to take legal advice.
Read the full article on a director's duty to promote the company's success here.