In this short video, we look at what agreements every start up business should have.
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Which agreements are important for your business then?
Well, first it has to be your standard terms of business. The agreement under which you sell your services or goods. But remember, they’re only as good as the system you use them in. You need to have clients and customers sign up to them every single time.
The second most important, at least for a limited company with more than one shareholder, is a shareholders agreement. Why is that important? Well, it’s the agreement that helps you run the company as well as help you sell the business in due course or deal with somebody leaving the business for whatever reason.
Knowing what the business has to pay back and when is really important to the cash flows of your business. The main thing is anything so long as it’s clear. Even simple written agreements will stop you wasting time on disputes and misunderstandings.
