SECTOR FOCUS: LEGAL & FINANCE


be used it must be registered with the public body who governs it and the actions taken by Attorneys, the Office of the Public Guardian (‘OPG’).


Who do you trust to make business decisions on your behalf?


Why do you need it? More than 800,000 people in the UK have dementia, and the Alzheimer’s Society predicts this will rise to more than one million by 2025. Every 90 seconds someone is admitted to hospital in the UK with a brain injury – traffic or contact-sport accidents are examples of what can go wrong. Today 515 people will go to hospital due to a heart attack. What would happen to your


‘It would be


prudent to ensure you appoint


someone to act in


your role and make decisions with your best interests in mind’


business or business interests in the event of a serious accident, an operation that didn’t go to plan, if you became mentally incapacitated or simply if you are stuck in a foreign country and unable to return to the UK? With staggering statistics like


this, your mind turns to what you can do to protect your interests


and what you can do to ensure that your business continues to run seamlessly in any of these circumstances. Who can sign a company cheque? Who can ensure all the employees are still paid and creditors accounts are settled and on time? Who can make a business decision on your behalf? Quite simply, a lot of your responsibilities may not be able to be covered by anyone else and it would be prudent to ensure you appoint


someone to act in your role and make decisions with your best


interests in mind. When it comes to paying


bills, most companies invoice on a 14 or 28 day basis. If a partner or director is unavailable for either of these lengths of time, creditors will be looking for payment, and by day 28, creditors could be sourcing advice for legal action.


For more information or to discuss your specific company’s needs please contact Wolferstans on 01752 663295.


March/April 2018 Chamber Profile 21


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