The pandemic has reminded us of the fragility of a business when all of a sudden the management is no longer able to run it. To help entrepreneurs best prepare for the unexpected, Banque de Luxembourg has devised a series of workshops.
Every company is likely to be faced with a crisis situation at some point. Yet business continuity is often overlooked or neglected by company leaders, even though there are gradual solutions. With this in mind, we launched a series of workshops to help leaders create a business continuity plan that is appropriate for their situation, their company and their family.
Using case studies and personal accounts from entrepreneurs, we invited participants to take a fresh look at the subject of business continuity and learn more about the various possibilities for ensuring the survival of their business in the event of an unexpected accident.
During the workshops, discussions were mainly focused on business continuity from a shareholder perspective and the potential impact on corporate governance. Many questions were raised such as:
“What will happen to my shares in the company if I’m hit by something like this?”
"What's the legal position, what do the company's articles of association say, and what tools would enable the business to continue?” etc.
Reflecting on these questions generates a degree of clarity for entrepreneurs themselves, as well as for their employees, family and customers, and subsequently helps them in planning for the transfer of their business in the medium or longer term.
For more information, please contact Anne Goedert.
