The Legal Document
If you own or are thinking of setting up a private limited company to be incorporated in England and Wales with your business partners, please talk to us about drafting a shareholders agreement.
As your business partners agree to hold shares in the company, you will need something in writing that sets out how each shareholder has agreed to manage the affairs of the company. The agreement will also stipulate the relationship between each shareholder and the company.
A shareholders agreement has allocated sections for a variety of financial matters relating to the company. It will include the company’s annual business plan, which will have been prepared by the shareholders/board members/board of directors. This will include cash flows, budget and forecast for the financial year. No doubt the business plan will have the input of a chartered accountant and possibly and business consultant. We are linked with an array of business consultants, financial advisers and chartered accountants that can help you with your business plan.
The shareholders agreement wording might sometimes resemble a job spec. It lays down the rules and responsibilities with those whose expertise is connected to the business. In other words, whatever your expertise is, you bring that set of skills and knowledge to the company. You are responsible to carry out that job for the company and make it work. So each director or shareholder brings in their own expertise to an area of the business. As such they are responsible for that area of the business and this is clarified in a section of your shareholders agreement.
Before Contacting Us
Of course we are saying that you are welcome to contact us even if you would just like an informal chat. But we are also saying that these are some of the aspects that we will be discussing with you, so might like to have them in note form in front of you. We will ask you questions regarding the nature of your business and what preparations you have made so far. Do give us a call to discuss these matters. We are always here to listen and help. SG
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