Is your logo or business name registered?
Do you have a Shareholders’ or Partnership agreement?
(A Shareholders’ or Partnership agreement regulates the relationship of the owners of a business and regular review enables discussions to take place in relation to future planning, roles and responsibilities, exit strategies and sale of the business.)
Do you have terms and conditions for your customers and suppliers that accurately reflect your business products and services and do purchasing and sales people know how best to use them?
(Having an up to date set of terms and conditions produced solely for your business can sometimes mean the difference between getting paid and ending up with a bad debt. Review every 3 years!)
Do key employees and directors have contracts of employment (including post termination restrictions?)
(Effective post termination restrictions can discourage your key employees from moving to a competitor or setting up in direct competition near your premises.)
Do you outsource any of your services to Individuals?
(If you outsource any aspect of your business to a self-employed individual you could unwittingly be deemed their employer for Inland Revenue taxation purposes if certain criteria are not met.)