BUSINSS PLANNINS IS ABOUT HAVING A CLEAR PLAN TO CREATE CASHFLOW AND CERTAINITY IN YOUR BUSINESS
There’s a simple 3 step process – ownership, key people and debt protection. One of the main questions to ask is what would happen to your business if one of the partners opts out – whether due to resignation or retirement?
Future proof your business
Having a business succession plan in place makes sure that the right amount of funds from the right source pass to the right party at the right time in an unexpected event. Making sure your ACC and insurance cover is structured in the most efficient way for your business.
Have the right legal set up for your business
Equity transfers, shareholder and buy/sell agreements can be quite complicated so it’s important to have these documents correct. Our advisers can assist you to make sure you have the right agreements in place, as this is an important part of the big picture.
Would your business stall if a key person wasn't working?
Specialist people who create business profitability are essential to consider in your business plan. So to is the chance of defaulting on a commercial loan. You can insure for these types of risk giving you a back up if suddenly key people were unable to work due to accident or death.
Things can change when you least expect it, especially in business – make sure you not caught out…
Ideally, ACC and insurance should be tailored to your own situation. By lowering your ACC cost and tying this in with appropriate sickness cover, you’ll have all bases covered. In most cases this can result in saving you money!
Of the 270,000 New Zealanders unable to work for a significant period last year, over 75% of them were prevented by sickness rather than accident.
Source: Statistics New Zealand