Corporate Protection
Whilst the success of any business relies on contributions from all members of the team, there are bound to be some outstanding individuals. These key individuals are often vital to the current and future profitability and trading position of the company.
Have you considered the impact to your business of losing the skills and expertise of a key individual due to illness, injury or death?
Consequences following loss of a Key Individual
- Reduction in sales and turnover
- Unable to continue supply of goods and services
- Reduction in profits
- Loss of direction, confidence and business vision
- Suspension or cancellation of strategic initiatives
- Heavy and unbudgeted recruitment costs
- Loss of confidence in business by financiers
Consequences following death of a shareholder
A deceased shareholders shares may pass to an heir who does not understand the business or who's interest conflicts with those of the other shareholders. Alternatively, the heir may need to convert the shares into cash to cover inheritence tax liabilities or to provide financial security to their dependants.
Maintaining control and stability of the company during this often turbulent time is key to it's continued success. By taking the appropriate legal and financial steps, shareholders can be confident the future holds no surprises.
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