Hello Everyone

[Neal]

Hello all,
I am Neal I set up a limited company six months ago with a partner my reason for joining this forum is to get advice from experienced business people as I dont think my partner is pulling his weight, and I am thinking of going it alone.

[mrbigdog]

Hi Neal,

Sorry to hear about your predicament. Boy that must be tough. It's hard enough running a business as it is.

I'm not very experienced myself, but feel free to run it by me in a pm or on here, I will give an oppinion if its what you need...

All the best

[UKBDF]

Hi, Neal

Sorry to hear about your troubles! Have you spoken to your partner? This happened to me about 2 years ago after I confronted the partner I was more than happy as they pulled there wieght!

Regards Kevin

[onthedottyping]

Hi Neal

Sorry to hear about your partner - welcome to the forum, it is lovely to meet you and there are lots of helpful people here on the forum

Samantha

[Neal]

[QUOTE=mrbigdog;41715]Hi Neal,

Sorry to hear about your predicament. Boy that must be tough. It's hard enough running a business as it is.

I'm not very experienced myself, but feel free to run it by me in a pm or on here, I will give an oppinion if its what you need...

All the best[/QUOTE]

Hi mrbigdog,

Thanks for your reply, I was trading as a sole trader and Nick who I have known for quite some time advised me to set up a limited comany, he just hapened to have a dormant company so he changed the name to the new company name , he has been in business all his life I am fairly new to it . It is a construction company . the agreement was that he would do all the admin and get the leads and I would run the jobs on site. He does do all the admin but every job we have got has come through me. So I feel it is me that has put all the money and effort into the business . I approached him recently about folding the business and he got upset and said he had done a lot of work in the background. what is the score on buying him out.

Neal.

[mrbigdog]

Hi Neal,

I'm really not sure where you stand. I suppose you could make him an offer to buy his shares in the company? If it is 50/50, you would normally offer about half of a years turnover to buy out a director - but I suppose it depends on your situation.

Can anyone else advise?

[MrCat]

Hi there Neal!

That's a sad thing to hear! If you are ready and able to take on the business by yourself, go for it!