To ensure the ongoing success of your business you need to effectively plan for the future.
What would happen to your business if you suddenly lost a partner, director or other key person due to disability, trauma, death or even retirement?
By implementing an effective succession plan for your business, you can avoid some of the potential problems that can arise from the loss of key personnel. Problems, that in some cases, could lead to the failure of a business.
Why not ask us how we can help you work out the best plan for you?
Set out below are examples of what you need to consider when managing your affairs.
Provides cover for "Capital Purpose" debt in the event of the death or disability of a Business Principal or key person.
Identifying your needs:
Shareholder or Director Loan:
Provides cover for the loss of Revenue generated by a Key Person in the event of their death or disability.
A key person is:
Who is the person in the firm that the success and profitability mainly depends?
What would be the effect on your business if this key person died or was disabled?
What cash is required to compensate for loss of revenue and replacement costs?
If there was a way to provide you with a cash cushion to offset loss of profits if he or she dies or becomes disabled, would you want to know about it?
Provides funding for Business Succession in the event of the death or disability of a business principal.
If there was a way to purchase at an agreed price, and that the money was available when needed with.