When you extend credit to a customer it is very easy to forget that it is the same as handing over cash. In order to preserve and protect the financial health of your business, it is vitally important to ensure that you regularly review and update your contractual terms with your customers, suppliers and contractors. This will ensure that your contractual relationships grow and adapt alongside your business. A new business, of course, will do very well to have a robust set of terms and conditions at the outset.

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As your business grows and evolves, you may wish to bring new directors onto the board to reward and secure key members of staff or to bring in new skills and contacts from outside your business.  In either case, the appointment of a new director to the board of your company is not as straightforward as it may seem.

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