SLK - shareholders/loans/key people

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Owning and running your own business and being able to build something that creates a new product, generates employment or gives you the life balance you're looking for is exciting.

But what if you were unable to be in the business due to accident or sickness, or what if your key sales person died or suffered a critical illness?

Business Protection is all about making sure that if the unexpected happened your business would continue to operate and that your turnover and profits are protected.

SLK considers the three key components most business have;

Shareholders - if you are a limited company or LLP have you thought what would happen to your shares if you died.  Or if one of your business partners died, how you would be able to buy back their shares from their estate?

Loans - not all business have loans or commercial mortgages.  But if you did, the bank is likely to have insisted on a personal guarantee or security.  What impact would the death or critical illness of a shareholder have on this debt, and would you want it paid off?

Key People - in all organisations there are key people, they can be the decision makers, the sales people, you.  If your Sales Director suddenly had a Heart Attack and was out of action for a year, what impact would this have on the business?  Would you need to recruit a temporary replacement?

At est8 planning we offer advice to create a personalised business continuity plan.  We look at all aspects of the business, explain the risks, make a recommendation and arrange the solution. 

For a FREE business audit contact us today.

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