Protecting Your Business
When you are responsible for the future success of a business, either solely or as part of a management team, it falls to you to ensure that not only opportunities are maximised but also any threats to the business are minimised. Some threats, such as stock being stolen or your business premises being damaged or destroyed are relatively easy to identify and address. There are however, a number of ‘hidden risks’ which could have a more lasting and serious effect on the profits, and indeed the continuity of your business.
Any business that relies on highly valued individuals needs business protection. Business protection is designed to help companies keep control of the business, maintain profit levels and safeguard loans.
The main ingredients of business protection include:
Key Person Cover
Whilst most businesses insure the boardroom table, few consider any form of insurance for their key staff. Small and medium sized companies especially, tend to have a core of invaluable people without whom the business would lose direction, momentum and sales. Larger companies too, still tend to rely on a nucleus of key players.
Partnership and Shareholder Protection
Partnerships have special business protection needs. They need to be confident that the business would be able to function properly in the event of a partner’s prolonged or permanent absence. Shareholders in a company, especially where there are only a small number of them, can have similar business protection needs in case one of them dies or becomes seriously ill. This is particularly the case if he or she plays a key role in the business.
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Employee Benefits
Providing employee benefits is an increasingly important part of many companies’ recruitment and retention programmes.
Group Life Cover
Group life cover offers the opportunity of providing employees and their families, with appropriate levels of Life Cover with limited underwriting, which is a benefit to the company and the employee alike.
Group Private Health Insurance
Group Private Health Insurance (PHI) ensures continuity of income for employees off work due to ill health. This removes the financial burden on the business whilst maintaining the goodwill of those affected.
Private Medical Insurance
This valuable benefit enables employees to get early access to specialist health care and advice. There are also options to include employees’ spouses and children.
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Retirement Planning for Businesses
Retirement planning for directors, partners and staff is tax-efficient and can significantly help with recruitment and retention.
Individual and Group Pension Schemes
Schemes can be tailored to suit individual circumstances. We offer practical advice on the choices available and the relevant tax advantage of each, and will ensure the smooth and straight forward set up of the scheme.
Stakeholder Pensions
Employers with five or more employees must offer them access to a Stakeholder pension scheme and offer payroll deduction for contributions; or access to an alternative pension scheme which meets certain requirements. We can help you find the right scheme for your employees and ensure that you are not in breach of the regulations.
Executive Schemes
Executive schemes are tax-efficient and often form an integral part of directors’ remuneration packages.
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Commercial Finance
Whether you want to buy an established business with a building attached; or you run an established business and you want to buy a property you are currently renting, or have seen property that would suit your company; there are a range of commercial mortgages available.
*The FSA does not regulate commercial mortgages
For Business Insurance products please see the General Insurance page.
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