The true extent of UK Limited company directors lack of key business knowledge and their business fears have been revealed for the first time.
A new survey of 250 UK limited company directors by CompanyHelp reveals shocking levels of misinformation, lack of understanding of key financial facts and also the precarious business situation UKs limited companies are in.
According to the research, 60 per cent do not fully understand how a directors loan account functions. A quarter (26 per cent) of directors incorrectly say a limited company protects directors from all debt liability.
More than 36 per cent of directors incorrectly feel that if they own a company the money in it is theirs. Just under half (47 per cent) of directors also s…
Read the full article at: http://www.investinuk.net/news/limited-company-directors-fail-understand-basic-business-concepts