Corporate Financial Planning
Most small to medium sized firms are unprepared in some areas of financial planning.
The consequences of this oversight may simply result in paying more tax than necessary, or it can be much more serious in that events which can and should be insured against are left uncovered, with possibly disastrous consequences for the firm and its owners.
The key areas of advice to consider here are:
* Key person cover against death or critical illness - many companies insure the company cars but not the sales people driving them and bringing in business to the company
* Shareholder or Partnership protection - Directors and Partners should look to protect each other against illness or death otherwise the Spouse of a deceased or critically ill Director/Partner could inherit that share of the business they know little about. This could potentially ruin the business and all your hard work
* Death in Service cover for all employees.