The impact on a business losing key personnel can be profound – loss of revenue, lower profitability, difficulty in making repayments on business loans or commercial mortgages. By choosing Panoramic to provide you and your business with advice on business protection, you will have taken your first steps to making the right strategic financial decisions.
Businesses are able to protect potential loss of revenue because of the death of a key employee in a number of ways. Succession planning enables surviving shareholders to purchase the shares of a deceased shareholder. Business Loan protection rather does what it says on the tin. Key man insurance – or more appropriately the absence of it is best shown in stark graphical terms.
Business survival rates when losing a key revenue generating employee
19% of businesses fail in less than 3 months*
58% of businesses fail in less than 2 years*
*Source: Institute of Directors 2011
To learn more about how Panoramic Wealth Management can help you complete your Business Protection journey contact us now on 01892 559 555.