Recession - Facing The Challenge

INTRODUCTION

The current economic conditions are creating challenges for all of us. The biggest challenges are likely to arise out of what we cannot control, for example, our suppliers, our customers, our landlords, our tenants and our financiers. Their behaviour is largely outside our influence.

Understanding legal relationships, rights and obligations with key stakeholders in a business is crucial to allow you to plan ahead. Dealing with a problem that arises out of the blue is significantly more challenging than if you have considered options in advance. Would you know what to do if one of your key suppliers or customers went into receivership, liquidation or administration?