A Shareholders’ Agreement – Why you should get one if you are setting up a company with others

business partners signging shareholders agreemenr

When you start a business with someone else, it’s always a good idea to lay down some rules on important issues, such as; how you will run the company, your respective responsibilities and what happens if someone wants to leave the business. Agreeing on how you will handle these, and other important matters, will save a lot of anguish down the line.

If you are going into business with other individuals working under a partnership structure, you should do this with a Partnership Agreement. If you are setting up a limited company, you will a need to record these in a Shareholder’s Agreement.

This guide explains what a Shareholder’s Agreement does, who should get one and what should be included in the document.
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How to Set Up in Business as a Partnership

set up a partnership

 

If two or more people wish to go into business together, and don’t want to set up a limited company, a partnership offers a simple way to get started. It is similar in many ways to going the sole trader route for an individual.
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Why it is important to have a Partnership Agreement

Business is all about partnerships – public-private partnerships, supplier relationships, collaboration with colleagues and competitors, and of course the way you work with your customers.

So it’s never a good thing when you find your closest partnership – that with the fellow leaders of your business – has begun to break down.

It’s the same old story – you start out bright-eyed and bushy-tailed, full of optimism, but even if your business is successful, the cracks can start to show when you try to decide where to go next.

Without a partnership agreement in place, it’s hard to tell who’s actually got the decision-making power, and companies can collapse in a matter of minutes when it all comes to a head.
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Top tips on how to work with a business partner

There are so many different skills that have to be mastered when you start and run a business, that it can be quite overwhelming. This article looks at the benefits and issues you may need to be aware of when working with a business partner.
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How to avoid problems with partnerships

Many small businesses are partnerships. Yet circumstances and ambitions change, partners fall out or die. Without a good partnership agreement things can get acrimonious. Here’s how to protect yourself from the start.
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