Wingate has a wealth of experience in creating effective business protection solutions for a wide range of clients from sole traders to large corporate businesses.
We work with you to fully understand your business including the people, the financials and your corporate objectives in order to recommend solutions that reduce the financial risks to you and your business.
The core solutions are Key Person and Business Finance protection and/or Shareholder or Partnership protection arrangements.
Key Person Protection
Whilst the success of any business relies on contributions from all members of the team, there are bound to be some outstanding individuals. These key individuals are often vital to the current and future profitability and trading position of the company.
Have you considered the impact to your business of losing the skills and expertise of a key individual due to illness, injury or death?
Consequences following loss of a Key Individual
- Reduction in sales and turnover
- Unable to continue supply of goods and services
- Reduction in profits
- Loss of direction, confidence and business vision
- Suspension or cancellation of strategic initiatives
- Heavy and unbudgeted recruitment costs
- Loss of confidence in business by financiers
Shareholder or Partnership Protection
Maintaining control and stability of the company in the event of the death or serious illness or injury to a shareholder or partner is key to ensuring the business’ continued success.
Shareholder or partner’s also want to ensure that in the event of the demise their beneficiary(ies) receive the value of their share of the business and as soon after their death as possible, without putting a financial strain on the business.
By taking the appropriate legal and financial steps, shareholders can be confident the future holds no surprises.
Consequences following loss of a shareholder or partner
A deceased shareholder or partner’s share in the business may pass to their beneficiary(ies)who does not understand the business or who’s interest conflicts with those of the other shareholders or partners. As important are the deceased shareholder or partner’s beneficiary(ies) who would often need cash rather than shares in order to provide for their financial security.