The Economic Downturn


The credit crunch is the buzz word on everybody’s lips and rightly so. There is no denying that these are difficult economic times. Harder than most of us care to remember. However this is not the time to loose heart. Businesses need to take stock by realistically reviewing business plans, cash flow forecast, financial statements, financing options etc. Talk to your bank manager, accountant, financial advisor or business management consultants, business transfer consultants, your local chambers of commerce and of course your solicitor. Shop around for the right one for you if you have to. If you have been adversely affected by the economic downtown, one thing is certain and that is, you can not afford to do nothing. Businesses need to bite back at the credit crunch by innovative and outside of-the-box thinking. One such way is by seeking joint ventures with like-minded businesses with similar ideals in order to consolidate overheads, share the management burden, diversify, add an extra dimension to the goods or services which you already provide, share know-how. The list of benefits is endless. In any of these events, it pays to keep one step ahead of the game and in the checklist below, we have set out the type of information/documentation you should have to hand when considering your next move. This should be save you time, effort and money on professional fees in the long run. ”Businesses need to bite back at the credit crunch by innovative out of the box thinking…” Hallmark is available to meet with you on a no-obligation initial consultation to discuss your requirements.

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Joint Venture Checklist

1 Documents Specific to Registered Companies and Limited Liability Partnerships

1.1 Certificate of Incorporation and any certificates of change of name

1.2 Memorandum and Articles of Association of the company

1.3 Names and addresses of the shareholders or members and share certificates and membership certificates

1.4 Names and addresses of all directors of the company or designated members

1.5 Name and address of the company secretary (if any)

1.6 Statutory Books

1.7 Company Seal (if any)

1.8 Last Annual Return of the company and any changes since that time (it is also advisable to have ready the last 3 years accounts and financial statements)

1.9 Details of charges including debentures, floating & fixed charges

2 Documents of General Application

2.1 Last 3 years accounts and financial statements

2.2 List of all employees,

2.3 Copy all employment contracts & schedule of current salaries

2.4 Copy all pension policies relating to employees & details employer/employee contributions

2.5 Details of banking arrangements and facilities

2.6 Details of securities & collateral given

2.7 Schedule of assets

2.8 Schedule of plants & equipments

2.9 Copy of all intellectual property rights (Patents, registered designs & trademarks, copyrights)

2.10 Copy of software licenses

2.11 Copy of licenses relating to environmental law & discharge/disposal of waste

2.12 Copy of all other licenses

3 Commercial Agreements

3.1 Copy of all maintenance agreements including computer equipment

3.2 Copy of all other

3.3 Copy of all hire purchase and leasing agreements

3.4 Copy of all other commercial agreements entered into

4 Property-Related Documentation

4.1 Copies of Leases

4.2 Details of Business Rates

4.3 Insurance Policies & up to date Schedules & Receipt for premiums

Take the first step and contact us today. Hallmark is available to meet with you on a no obligation initial consultation to discuss your requirements.

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