The Boris or Bust in Business
This week has marked a shift in the political landscape. With Boris at the helm, Britain can expect a boisterous, vocal leadership as the UK ploughs towards the 31st October. Whilst there are countless MPs, the Conservatives’ success or demise will largely be pinned on Boris. It is the fate of a figurehead, and the same can be said for business.
Many of our clients are company Directors. They decide strategy, design systems and even manage those vital client relationships that keep the business ticking over. They are key to the firm’s prosperity. But what would happen if they had been hit by one of Boris’ famous red busses? Would clients lose faith, lenders cut off credit or staff lose their way without the face of the business? Moreover, who would fill their shoes? Perhaps their spouse or children, but how would the surviving shareholders feel about that? Of course, the remaining shareholders could buy their shares, but do they have the funds to compensate the family? If not properly planned for, the business itself could be jeopardised. Thankfully, this can be easily avoided.
At Swallow Financial Planning, our advisers not only ask these simple questions, but help you find solutions. Whether through Key Persons Insurance or Shareholder Protection, we can start the conversation and then protect you, your business and your family from catastrophe in the most tax-efficient way possible.