Owning a business is a huge responsibility – especially when you’re a sole trader, business owner with only a handful of staff, if in fact you have staff at all!

We know that running the operational day to day stuff, paperwork, bookkeeping, vat can be time consuming and frankly exhausting, but have you given any what might happen if things don’t go according to plan?

Financial chaos and any critical illness will damage your business and could even leave you with no business at all with a mountain of debt you are unable to pay.

Any smart business adviser will tell you that you can insure to cover this – which is all well and good but what happens if you are in an unexpected road accident, and you lose mental capacity- leaving your business hanging in the balance?

You don’t have to be elderly to be diagnosed with Alzheimer’s or any other form of memory loss to understand that running a business with any kind of memory problems can be an insurmountable challenge.

Ensuring you make an advanced decision telling someone what you want to happen with the business, your finances should the worse happen is a smart forward-thinking approach to life- your life.

If you haven’t decided what happens if … your business could end up in the wrong person’s control.  That’s where it’s important – for your business and your family to put your wishes down in writing.

This is known as a Lasting Power of Attorney (LPA) and sets out everything you want to happen, even if you should lose mental capacity. Leaving things to the last minute can cause financial difficulty, timely unnecessary delays if your affairs are not in order leaving family members wondering what the hell to do on your behalf and being frozen out by the court of protection because your LPA Lasting Power of Attorney is not in place. Is that what you want- I doubt it!

Putting an LPA together isn’t a complicated process – ask Jane how it works.  You can call her on 07801 287 213 or email for further information.