It’s unfortunate that businesses are more likely to fail within the first 12 months after losing a key member of staff. But with foresight and careful planning, the potentially disastrous effects can be mitigated – which is where Franklyn can help.
Having the right protection in place is good for business. It means more certainty when anyone suggests ‘what if…’, helps confidence through having a succession plan and, overall, gives your business a brighter future. Think about the far-reaching consequences of a key staff member leaving, becoming ill or even dying; they could include loans being recalled, the loss of key contacts or clients, reduced capacity and even a loss of profits.
That’s why it’s important to have the right insurances in place, regularly updated as your business changes, to protect you from that risk. Our corporate planning services cover much more too. For example, we can also help plan your ‘exit* strategy’, realise your long-term end goal, whether that’s your retirement, or selling your business. Just talk to one of the team.
*Please note that for certain areas of exit planning, it will be necessary to refer you to an external specialist, which we can easily facilitate for you. Their services will be separate and distinct to our own and those offered by St. James’s Place.