The skills required to run a business
As a business owner or director you need many different skills for your business to succeed. You may be a first-class engineer, but unless you can sell your product, your business could fail. Likewise, you could be a wizard financier, but unless the people you employ are well managed, your business could collapse. Running a successful business means being able to access many skills. As your business grows, the range and complexity of skills your business needs will grow too.
If you take on the role of a company director| you take on very clearly-defined responsibilities that are set out in The Companies Act 2006. You, or members of your team, will require specific skills to carry these out. Duties such as ensuring that certain documents are filed with Companies House may not sound onerous but, on average, each year more than 1,000 directors are prosecuted for failing to do it.