You are interested in how you insure your business.
There are many things and many ways to approach this. To keep is simple we break it down into six key areas.
1. Managing the ownership. Succession planning, shareholder transfer and buy/sell agreements for managed transfer and release of equity and shares.
2. Managing debt. Whether it is a key person or a shareholder being disabled, having a traumatic condition or even passing away, debt is something that needs close attention. This area can quickly become a problem if key people are disabled or ill for an extended period. This includes personal guarantees too.
3. Managing key people and resources. If someone key to your operation did not show up for a week, a month, 3 months, 6 months or never again, how would your business really cope?
These are people who have strategic importance to your business; like owner operators, directors, sales, marketing, intellectual property, operations, finance. The list can be quite extensive depending on your business shape and size.
4. ACC Levies. For small to medium businesses, ACC levy management is often a significant consideration with some businesses finding this is can be a significant cost with low perceived and/or delivered benefits. We can help keep these under control for you.
5. Health & Safety Planning. With the changes to the health and safety laws that came into effect in April 2016, all businesses need to ensure they comply with this legislation. This includes those people that are self-employed or contracting too. We can assist you with complying and often this allows you to access additional ACC levy discounts.
6. Your wider staff. Businesses who employ as few as 5 people can access group insurance benefits with concessions. This can be an advantage for employees who cannot get insurance cover in the usual way and is often a higher perceived value than the monetary reward of a pay rise.