One of the major risks of being a director is the liability you face if the company fails. Thanks to a new decision from the High Court, this risk has just become a lot higher. When a company fails, directors often face a risk that they will be sued for having breached their director duties. …
Trade Better – What Mainzeal means for Directors Read More »
New Year, New Legislation The holiday period often provides business owners and managers the opportunity to reflect on their successes and upcoming challenges in the year ahead. The beginning of the year is also a great time to make sure that your business has the tools and foundation to continue to thrive. There were some …
Alarm Bells are Ringing for Sleeping Directors It has long been commonplace in New Zealand for owners of small businesses to have their husbands, wives or de facto partners registered as directors. Often this appointment is a mere gesture, with the spouse/partner director having little to no involvement in the business. However, these so-called “sleeping …
Many small companies – especially family-owned or “owner/operator” businesses – have the same directors and shareholders. In these companies, it is common practice for shareholders to have a “shareholder current account”, also referred to as “drawings”. The current account is a debt that can be claimed by the Company against the shareholders. While most shareholders …
Risks of Small Companies Operating a Current Account Read More »
INTRODUCTION Leases are important — they are long-term, binding commitments. They may well be the largest investment that a tenant will make in its business. A well drafted lease can make the difference between a business succeeding or failing. For a landlord, a lease represents and protects a major asset and income stream. Although to …
