We recently invited Joanna Oakey, Director of Aspect Legal to a webinar on the topic, ‘The Legal Challenges of a Growing Business’
Here’s what she said -
Be aware of where your financials are. Keep regular communication up with your accountants. If you're in financial distress, don't put your head in the sand, deal with it front-on, have those discussions with your lawyer and his team to make sure you're on top of understanding what to do in this situation.
Don't sign personal guarantees, and protect your assets. They're the main things but also be aware of all these. OH&S is another area of key potential risk as a director if you've got employees that are on building sites or things like that, that might be particularly dangerous.