Brett Barton
Brett's recent articles
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15th September - Is This The Beginning Of The End Of Business Rescue?
16th June - On Your Marks, Get Set, Go !
17th March
Directors Urged To Protect Their Investments
2nd February 2012 15:33
In recent times it often falls to directors to prop up their business finances when things go wrong and new for 2012 Cranfield are launching a new product called “Directors’ Debentures” which are aimed at directors of all size companies. The debentures are designed to minimise their personal financial risks when investing in their own companies. If a company then finds itself in trouble a debenture will give the director a higher priority if the company is wound up.
I have seen the effect a business failure can have on company owners and directors first hand. Business owners who are not protected risk losing their homes and other personal assets, which affects them for many years. Seeing your company fail is one thing, but to also lose your personal assets too as a result of this is a doubly devastating blow.
I would urge directors across the region to consider the worse case scenario, even if their business is currently very solid. Putting a Director’s Debenture in place is a straightforward process and the earlier directors think about this the better.
I recently worked with a company director who wished he had taken this advice as he is now being forced to sell his home as a result of the current recession after having to place his company into Administration. He said “It was only after I had consulted Cranfield that I learnt about a Director’s Debenture. Had I known about this at the time I remortgaged my house and invested the money in the company I wouldn’t now have to be selling my house to repay the money I borrowed.”
I work closely with clients to help them avoid business failure by carrying out a business health check and recommending a business recovery plan. However, when things are beyond recovery, I can also help clients to choose the best options for closure and winding up.
For further information about setting up a Director’s Debenture, please contact me on 024 7655 3700. Alternatively you can email Brett to request a brochure
