The five most important contents of the emergency kit -

The five most important contents of the emergency kit

Most entrepreneurs have already heard about the contents of the emergency kit. Nevertheless, 70% of all German company owners have not packed their emergency kit or have packed it insufficiently. If the boss unexpectedly drops out, it quickly becomes existentially threatening for small companies because, for example, no powers of attorney for accounts have been issued or deputy arrangements have been agreed and implemented. The succession specialists show what should definitely be in the emergency kit. 

In the first part, we look in particular at the proxy regulations and the necessary power of attorney regulations as contents of the emergency case. The second part focuses on the key documents of an emergency case and uses a practical example to show how the legal succession and the partnership agreement can undermine an entrepreneur's will.

What must be in the emergency kit?

1. deputy regulation

Especially in small and medium-sized enterprises, the owner is often the most important person in the company. He is the one who pulls the strings, he has full responsibility for his entrepreneurial actions. Nevertheless, he should ask himself to whom he would transfer responsibility in the event of an emergency.

Every entrepreneur should have a written deputy regulation", says Nils Koerber, consultant for business succession in Bremen. He emphasises in the Interview with ImpulseI have already had cases where the deputy did not know anything about his role. And he did not want the responsibility at all?

Incidentally, it often does not help to appoint one's spouse as a proxy. This is simply due to the fact that it is more likely that something will happen to a married couple, e.g. on a joint holiday trip, making a proxy arrangement obsolete.

Rather, it makes sense to attach a job description for an outside director to this deputy regulation. On the one hand, this forces the entrepreneur to set down his own job description and helps the company in the event of an unexpected emergency. In this way, it helps an internal successor to the company to quickly take over the owner's duties or to provide the family with a third-party managing director or Interim manager to find.

2. advisory board regulation

For this reason, it is advisable to set up an advisory board for companies with 15 or more employees. This can be, for example, 1-3 entrepreneurs or also the tax advisor.

This great and cost-effective instrument is very easy to introduce: The advisory board members advise the entrepreneur and can provide important impulses in the normal daily business. In an emergency, a company remains capable of acting through such an advisory board: it can step in and temporarily take over the operational management of a company.

3. powers of attorney

Powers of attorney are a very important part of the emergency kit: These include private powers of attorney and account powers of attorney for the company and private accounts as well as a power of attorney or procuration for the deputy. The latter should possibly be deposited with a lawyer: The lawyer is only allowed to hand them over if an emergency occurs, which has been explicitly discussed beforehand.

Click here for the second part, which deals with the essential key documents and the entrepreneur's will as further essential contents of the emergency kit.

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