Uk Small business deadlock
Discussion
Hi there. I am in business with a long term colleague. We did a mbo. Paid 50 quid each for shares with the purchase price for business paid out of the company over the next 10 years.
Heres the catch. My business partner feels my role isnt enough for my salary/title. My role has mostly come about by decisions he has made. I put effort in but he perceives his role is more important.
The company has had year end and has made a small loss. But does pay its way without bank help/loans just the main capital loan.
We had a chat and he is basically saying he can make a go of it running it on his own (with me staying as employee on decent salary) but handing him all my shares.
What do you think. Part of me wants to work a deal out where i give some shares and stay but another thinks sod it and ask him to buy my shares if i walk away completely. He would be able to buy them over a period of 6 years with my salary if he paid in installments say monthly. Can shares be bought paying monthly out of the company?? If so who would the shares belong to? The company? Or my business partner? Help would be appreciated
Heres the catch. My business partner feels my role isnt enough for my salary/title. My role has mostly come about by decisions he has made. I put effort in but he perceives his role is more important.
The company has had year end and has made a small loss. But does pay its way without bank help/loans just the main capital loan.
We had a chat and he is basically saying he can make a go of it running it on his own (with me staying as employee on decent salary) but handing him all my shares.
What do you think. Part of me wants to work a deal out where i give some shares and stay but another thinks sod it and ask him to buy my shares if i walk away completely. He would be able to buy them over a period of 6 years with my salary if he paid in installments say monthly. Can shares be bought paying monthly out of the company?? If so who would the shares belong to? The company? Or my business partner? Help would be appreciated
Gassing Station | Business | Top of Page | What's New | My Stuff