BUSINESS PLANNING IS ABOUT HAVING A CLEAR PLAN TO CREATE CASH FLOW AND CERTAINITY IN YOUR BUSINESS
One of the main questions to consider is what would happen to your business if one of the partners or a key person of your business leaves? What impact would this have on your cash flow? This is where having a plan in place can help with challenges many business owners may face.
Future proof your business with expert planning
Prepare your business for unexpected events with a comprehensive succession plan, ensuring the right funds from the right sources are transferred to the right parties at the right time. It’s crucial to have the correct legal documents, such as equity transfers, shareholder agreements, and buy/sell agreements, so consult with an expert about your business structure. Additionally, consider insuring key individuals who are vital to your business’s cash flow and profitability to protect against the financial impact of losing essential personnel. Talk to our advisers to explore your options.
Things can change when you least expect it and cause havoc to your cash flow – make sure your business is not caught out.
There are many solutions to creating cash flow and future-proofing your business. Reviewing your ACC and tailoring this with sickness cover is just one option to consider. Talk to our advisers, they are experts in helping businesses with their risk management strategies.
ACC has some staggering statistics for work-related injury claims. In 2022 there were 283,241 active claims and the cost of these claims was $968,945,324!
Source: Statistics ACC New Zealand 2022
RIVAL Wealth eNews
Sign up for our quarterly eNews. You'll be kept in the loop with loads of helpful information, short videos, refreshing articles and riveting top tips!
