Protecting Your Business
As the recession closes and the economy has more than green shoots of recovery the need to review business strategy becomes more important. Succession planning or retirement can be considered again but what about protecting your business so that you can reap the rewards of your labour.
What is the service?
Protecting your business normally involves:
Reviewing existing banking/loan arrangements including guarantees;
Reviewing staff terms and conditions and shareholder agreements;
Reviewing existing General Insurance policies to ensure you are not under insured;
Reviewing existing keyman and shareholder protection arrangements.
Why you may need it
It is very easy to lose sight of the bigger picture. We can provide support and advice, to complement your Accountants, so that you can increase how much time is spent "on" the business rather than "in" the business. Strategic planning to protect your business is essential.
How does it work?
We will sit down with you to review your current situation and help you plan for the future and protect against potential pitfalls. This might include:
Your existing turnover and profit and the expectation for improvement;
Your key employees their costs and impact on your business;
Review your existing arrangements for existing employees;
Review of shareholder protection, if applicable;
Review of employee benefits;
There are many other issues that can affect your business. If you lease premises could you afford to buy and what about using pensions. In business it is essential to know why you do it and to make plans to reap the rewards, not forgetting to protect against hiccups.
Protecting your business does not have to be complicated and many forms of protection can be changes in processes and self funding.