We spoke to Paul Hardman and Bridget Juckes from renowned law firm Gregg Latchams for help and advice about future planning for your business.
The COVID-19 pandemic has been a difficult time for businesses and leaders across every sector. While no-one predicted the effect that the pandemic would have, some businesses were more prepared than others. This unprecedented event has highlighted just how important it is to plan the future of your business, and even have the difficult conversations that no-one wants to have.
Watch the full interview here:
Here’s what we covered during the discussion:
- Paul Hardman introduction (0:21)
- Bridget Juckes introduction (0:53)
- Would you say this is a good time to put future plans in place? And if so, where should a business leader start? (1:38)
- How do we deal with different types of shares and the people who hold them? (4:24)
- How important is it to have a Shareholders Agreement in place, and what other legal documents do I need? (8:55)
- What happens if a director or shareholder becomes incapacitated or dies? (16:22)
- When should I start thinking about succession planning and what are the key issues to consider? (22:29)
- Our final question of the day will be for Bridget. Once I’ve considered all the issues and made decisions about the future of my business, how do I bring all of the detail together, and do I need to involve a solicitor? (25:43)
- If someone is ready to discuss future planning and in particular shareholder agreements, how can they get in touch with you? (27:36)
Go to the Gregg Latchams website if you have an enquiry or would like to speak to a Gregg Latchams expert.
Paul Hardman is one of the company’s Directors and heads the Corporate and Commercial departments at Gregg Latchams. He specialises in corporate finance work covering mergers and acquisitions, management buyouts and buy-ins, joint venture arrangements and shareholder agreements. Paul has over 30 years of experience acting mostly for SME and owner-managed businesses.
Bridget Juckes is an Associate Director in the Commercial & Corporate Law team at the firm. She has over 35 years’ experience in dealing with SME owner-managed businesses, particularly in the care home, hotel and retail sector.