Business Assurance

Many small and medium sized businesses are run and maintained by driven, talented people who have an exceptional knowledge of their industry and their customers. Over time they build up their client base and create goodwill through their efforts. Their value to the business is often hard to quantify in financial terms. In many cases these individuals ARE the business.

The impact of the death or critical illness of a key person on the business can be catastrophic. In worst case scenarios the business can all but grind to a halt. The key persons and/or their family may lose their income, but there will also be a dramatic impact on the other employees and their families. Not to mention the suppliers to, and customers of, the business.

It may take a significant amount of time and expense to replace the key person if they are not able to return to work. This process of 're-tooling' can hurt the business and cause it to lose out financially. The business may also wish to compensate the key person's family. Funds simply may not be available to achieve all of this.

Business Assurance provides flexibility. It could fund the cost of replacing a key employee. It could provide funds to buy out the family of a deceased director/shareholder. Above all, it provides options for the business.

Talk to us today about Business Assurance and see how we can help you plan for every eventuality.



Myers Financial Consultancy Limited is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers in the UK. Website designed and built by Steven Myers