By Nakasia Logan
Financial expert and Head of the London House Chambers, Devindra Kissoon, recently provided essential guidance for entrepreneurs at the Women’s Chamber of Commerce and Amcham Business Brunch and Financial Seminar held at the Guyana Marriott.
Kissoon shared valuable insights on starting or expanding businesses, emphasizing the importance of thorough due diligence and professional advice to effectively manage risks.
Kissoon highlighted the necessity of understanding loan terms in-depth to avoid unforeseen pitfalls.
He stressed that entrepreneurs should seek expert guidance when dealing with loans or selling businesses to safeguard their wealth.
Ensuring comprehension of interest rates, repayment terms, and the full consequences of financial agreements is crucial for asset protection.
In business partnerships and transactions, Kissoon underscored the significance of preserving ownership rights.
He pointed out that minority owners can safeguard their interests by including clauses that require their agreement for major decisions, known as minority shareholder protections, which are part of a unanimous shareholders agreement.
Kissoon also advised on strategic planning and risk diversification through a ‘tripod structure,’ which involves allocating funds evenly between cash reserves, assets, and investments.
This strategy enhances resilience against market fluctuations and other uncertainties, providing a balanced approach to risk management.
Reflecting on common challenges faced by entrepreneurs, Kissoon emphasized the necessity of thorough market research and robust business planning for sustained success.
Understanding market conditions and developing comprehensive strategies are foundational to achieving long-term business goals.
Kissoon’s expertise in protecting assets and managing complex transactions, along with his advice on strategic planning, offers valuable guidance for entrepreneurs looking to safeguard their ventures and ensure long-term success.