Ground rules in the running of companies, trusts & partnerships
We have wide experience in what goes wrong in business relationships.
- Changes in the market
- Cash flow shortage
- Hiring and firing issues
- Business direction
- Inequity in drawings
- Perceived imbalance in day to day work contributions
- Approaches to modernisation and innovation
- Giving personal guarantees
are difficult to deal with and there can be genuine and heartfelt differences between owners about what to do. There can also be deliberate attempts to sabotage the relationship for the commercial advantage of one party.
It is extremely common is to find that the roots of the problem lie deeper in the relationship between the parties. The ways that each person approaches the problems is critical to how the problems will be resolved.
- A person closer to retirement may value caution over risk
- A person suffering subject to high stress (for example medical or relationship issues) may want to do nothing even if action is necessary
- Different skill sets lead to overvaluing of each person’s particular skills (for example, a salesperson may believe the business is nothing without them; and a good administrator may believe that good systems come before anything else).
- Different ages between parties contributes to the different value systems which are in conflict.
When relationships are starting, we can help you put together agreements to formalise relationships between business partners, joint venture parties, shareholders and directors, beneficiaries and trustees which deal with the obvious matters. However, we go deeper to incorporate understandings about other very influential issues and help you implement strategies to keep on top of those matters