Protecting My Business

As business owners we understand the time pressures and risks you face in running a successful business.

The Impact of the Death of Shareholders

So, ask yourself:

  • What would really happen to your business if a key shareholder or partner died?
  • How would the shareholders family receive the full value of their shareholding?
  • Would the deceased family want to be involved in the future direction of the business?
  • Would the company survive?
  • How would creditors and your bank react?
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16% - The business would cease to trade 37% - Surviving Partners/Shareholders would buy this business owners shares 15% - The beneficiaries of the business owner would become active in the business 43% - Of limited companies have not reviewed their articles of association since the business started 37% - Of partnerships have not reviewed their partnership agreement since the business started 16% 15% 37% 43% 37%
16% 15% 37% 43% 37% 16% - The business would cease to trade 37% - Surviving Partners/Shareholders would buy this business owners shares 15% - The beneficiaries of the business owner would become active in the business 43% - Of limited companies have not reviewed their articles of association since the business started 37% - Of partnerships have not reviewed their partnership agreement since the business started

Contingency Planning for Business Owners

As a business owner you have significant responsibilities not just in terms of running a successful business, but also to your co-owners, shareholders, employees, investors and your family. All are dependent upon you being present in the business for their financial security.

With so many parties it is vital that you have clear agreements in place to explain how your business will continue in the event of your death or serious illness.

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96% 99% 60% There were 5.7million private sector businesses and: 96% have less than 10 employees 99% of UK businesses are small or medium sized 60% of employment in private sector is reliant on SME’s
96% 99% 60% There were 5.7million private sector businesses and: 96% have less than 10 employees 99% of UK businesses are small or medium sized 60% of employment in private sector is reliant on SME’s

The Biggest Risks We Insure

As with any risks you face in business, insuring against the loss is a common solution. However, are you insuring the right assets?

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3% 15% 51% 63% 3% thought being broken into would cause an impact 15% thought the premises being damaged by fire or flood was their biggest risk 51% of business have some form of business debt 63% said the death of the owner would be the No1 risk to their businesses future
3% 15% 51% 63% 3% thought being broken into would cause an impact 15% thought the premises being damaged by fire or flood was their biggest risk 51% of business have some form of business debt 63% said the death of the owner would be the No1 risk to their businesses future

Just let us know how we can help you...