One of the advantages of using a limited company as the vehicle for your business is that while the company owns all of the business, ownership of the company can be spread among as many people as you like. Most companies start with 100 shares of £1 each. Hence the expression “a hundred pound company”. That means the company has agreed, through its shareholders, to authorise 100 shares. You then decide who gets them. You [...]

The word ‘contract’ incites numerous connotations of intimidating language, incomprehensible terms, and expensive fees. Unfortunately, this results in so many small businesses not using a written contract and thus leaving themselves open to disaster. Ensuring a well drawn contract is in place does not create mistrust nor does it have to be expensive, time consuming or complicated. Simply, it is the basis for trust. If all the terms are written down in one place, there [...]