July 6th 2010
Winding up a small business with no cost to a director
Here in the UK there are many small business owners who have decided that they simply cannot trade on. I have spoken to many every week who have injected their own capital into the business in the last six months, only to find out that they have used it all up with no tangible rewards.
I feel so sorry for these directors. I often write that a Director must separate the business shell which is the limited company liability from the business. In short it is what you do and make and sell which is more important than the name of the company which you operate by. Many Directors find it hard to divorce themselves from XYZ Ltd.