Managing staff sickness is a challenge for businesses of all sizes. While employees who are genuinely ill or injured should be treated at least in accordance with their legal rights, business owners need to reduce the chances that their productivity and profits will be severely affected by unauthorised absence (AKA “sickies”).
“Directors can become personally liable for a company’s debts if they allow the company to trade while insolvent with no reasonable prospect of survival. Wrongful trading like this could also lead to being disqualified”
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Buying a business can be a great opportunity to strengthen your market position, diversify into new markets and accelerate growth, but it involves risk, which is why sound legal advice is a must.