Asset 2

Business Contingency Planning

If you or another key player weren’t there, what would the impact on your business be?
Who would own and run the business?

If your business partner or another core shareholder died suddenly, who would you be in business with? Husband/Wife/Solicitor? Is this the outcome you would want if the unexpected suddenly happened?

The greatest outcome we can give those we care about is certainty. Through spending some time to develop a business exit plan, we can make things simpler for everyone involved.

With significant experience in accounting and insurance we are uniquely placed to analyse your business structure and identify key risks. We can then provide you with an appropriate plan, including:

Buy/Sell Agreements – to document the intentions of the shareholders in the event of something happening unexpectedly.

Debt/Personal Guarantees – ensure that a plan for debt is created and personal guarantees are discharged. Nobody wants to leave their family with unexpected obligations.

Key Person – losing a business partner will likely have a financial impact on any business. By discussing this we can ensure that everyone is on the same page, and a plan is in place.

Developing a shareholder contingency agreement provides certainty for the directors that they can maximise the value from the business. This also gives the customers, employees and suppliers ongoing certainty.

We work with you to establish the basis of the agreement, and with your legal and accounting advisers to get it in place.

Business Insurance - CIC Financial | Christchurch Insurance Center

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