Who is going to fill their shoes?
Have you considered the impact the death of a key employee or business partner would have on your business?
Business owners and their families throughout Ireland are facing this issue everyday. Some, however, are much better prepared than others.
As a business owner, you protect your property, your vehicles and equipment. But have you considered what would happen to your business if you died prematurely and the financial impact that it could have on your family? Would your family stay in the business or would they sell the business? You may also need to consider the impact on your business of the death of a key employee or business partner. Would you have the funds available to buy your co-owner’s share of the business from their family? Would the business be able to sustain the financial loss on the death of a key employee?
A Financial Broker has the expertise to help you identify your business protection needs whether you are a Sole Trader, Partnership or Limited Company. Business Protection is an effective solution that can ensure there is a capital lump sum available to buy the deceased business partner’s share and / or help offset the financial impact of a key employee’s death. Having the means to buy a deceased partner’s share allows the remaining partners to retain full control of running of the business.
You can’t predict the future but you can plan for it. Talk to Southeast Financial Services today and make sure your business is protected.
Philip Cullen t/a Southeast Financial Services Limited is regulated by the Central Bank of Ireland.