My daughter is about to turn the age whereby she will be legally old enough to get behind the wheel and take responsibility for a moving vehicle. I say this with trepidation for her, my husband and I, and our fellow road users!
The truth is that driving is a life skill. One that can only be acquired from the process of learning our theory, engaging the help of an instructor and committing to regular lessons, enduring the dreaded driving test, and … gaining ongoing practical experience throughout our driving lives.
Building up this experience invariably brings with it moments of:
Oblivion – I suspect we have all had that moment of realising that we didn’t read the street sign and have just driven up a one-way street.
Indolence – I know I am not alone in finding parking the car tedious. If it is within the lines, mission accomplished. If the car is straight, well that’s a bonus!
Folly – In the very early days of lessons, my driving instructor asked me to go ‘straight on’. I complied and drove straight over the mini roundabout while he sat with his head in his hands!
Irresponsibility – Most likely the time my instructor considered early retirement was the moment that I asked him whether I should race the traffic lights before they turned red. My humorous suggestion was met with him applying the dual controls and going hard on the brakes!
Now take a moment to apply these thoughts to directorships.
You have reached that pinnacle moment in your career when you have either been promoted to the role of statutory director or you are about to incorporate your first company and embark on your journey of entrepreneurship.
What do you do?
There are no ‘L’ plates and there is no ‘provisional licence’ status for directors. You either are a director and bound by legal requirements and obligations, or you are not. There is no middle ground, no theory or practical test, no certificate or licence. Yet you are taking the controls of a legal person and a moving vehicle.
How can we help?
Our Corporate and Commercial team has a wealth and wide range of knowledge and experience of working with entrepreneurs, business owners, directors – new and well-seasoned – across many different industry sectors.
If you have a question about your director duties and responsibilities, what you should be thinking about for corporate decision-making, you have a particular matter that you would like a soundboard for, or you have been invited to become a director and are unsure about what that means for you; we are here for you as an advisory resource and tool in your toolkit.
• Contact Carla Loveday at firstname.lastname@example.org or on 01892 515022 for an initial chat.
• Follow us on LinkedIn and make our website a favourite, as we will post some practical pointers on directorships.
To get you started, https://www.gov.uk/guidance/being-a-company-director is a great place to gather some basic information.
This blog is not intended as legal advice that can be relied upon and CooperBurnett does not accept any responsibility for the accuracy of its contents.