Business Preservation

Business Preservation

Businesses and their owners generally pass through several identifiable stages during their business life cycle. Business Preservation and protection is the first stage: Helping to ensure protection against unexpected pitfalls.

• Would your business be threatened by the death of a key employee?
• Regulations change. Have your plans kept pace? When was your last “checkup”?
• What about your partners? Do you have a buy/sell plan in place? How is it funded? What is your businesses current value?
• What about Employee benefit plans? Just as important, what are your “Selfish Benefits”?

KEY EMPLOYEE

Key person insurance is simply life insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business–the ones whose absence would sink the company. You definitely need to consider key person insurance on those people.

BUSINESS CHECKUP

When was the last time your business had a “checkup”? When was your last business valuation? Have things changed? Let our trained staff provide a free audit of your situation.

BUY-SELL

Without a business succession plan, the death of an owner can create problems for the business owner’s heirs and the business itself. In fact, many businesses simply do not survive upon the death of one of the business owners. A buy-sell agreement can help to ensure that the business continues after an owner is no longer around.

EMPLOYEE RETENTION

Multiple generations in the workforce simultaneously can make benefits a tricky issue for businesses. The key is understanding how benefits can help you attract and retain top talent by offering the right solutions for each generation.