Business Assurance

 

Selling your business to fund your retirement?

You need a strategy to get the most out of this process.

 

Maximise the Value

 

Ultimately, the success and profitability of a business depends on its most valuable assets which are the people, whether it be owners, directors or employees.

Business assurance is generally defined as risk assurance that serves to protect a business from loss or damage in the event that a key person dies or becomes disabled.

Business Assurance South Africa

Business assurance is instrumental in any succession planning process and provides much needed certainty and financial liquidity.

The fundamental purpose of business assurance is to ensure that a business is able to continue operating after an unexpected event.

In addition, it protects a business owner as well as his or her dependants from financial difficulties as personal assets are usually tied into small to medium, privately owned businesses.

Business Structure Review

One of the most important aspects to consider when setting up a business is its ownership structure and a lot of time and effort should be spent on ensuring the right structure is selected.

We also understand that to review an existing business structure and all the potential consequences can be overwhelming. Therefore, our financial advisors have made themselves available to assist with this important part of owning a business.

There are various business structures to choose from which include:

• A sole proprietorship
• A partnership
• A close corporation
• A company
• A small business corporation

Each of these structures has its own financial risks and implications that will ultimately determine the type of business assurance a business will need.

When it comes to assisting with business structure, our services include:

• Reviewing the business’ current financial plan
• Exploring the goals of the business before considering to most appropriate business structure to effectively execute those goals
• Analysing current and existing agreements

In addition, we offer professional advice on the selected business structure to ensure that it is as tax-efficient as possible with regards to income tax and estate duty.

Building Business Succession

Our financial advisors in Johannesburg take a holistic look at the business succession plan before thoroughly explaining what the implications would be should one of the business owners or key persons pass away suddenly.

We review current business succession agreements such as buy and sell agreements and explore current policies that are in place for this purpose.

In addition, we ensure that all policies and agreements are compliant with legislation and are tax-efficient.

Our business succession services include:

• An in-depth analysis of the business’ needs
• Drafting of buy and sell agreements
• Key person insurance
• Contingent liability
• Credit loan accounts

Furthermore, we also provide expert advice and assistance with group medical schemes as well as pension and provident funds for businesses and their employees.

Olemera – Financial Advisors in Johannesburg

Our financial advisors understand the financial risks and implications that come with owning a business.

It remains our priority to assist business owners with developing a comprehensive financial plan which is appropriate and suitable for their unique business.

Our services cover all aspects of business assurance so as to protect the business, its owners and their dependants from financial difficulties due to unforeseen circumstances.

Contact us for more information.

 

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