Business Insurance
At Maitland Bottrell Wealth, we are dedicated to ensuring the financial stability of your business. As a top provider of business insurance in Maitland, we recognise the significance of safeguarding your assets and maintaining the smooth operation of your company. Our team of qualified and experienced professionals take the time to comprehend your specific requirements and customise our services to fit them. Whether it’s key person insurance, Total permanent disability insurance or income protection, we possess the knowledge and resources to guide you through the intricate realm of business insurance.
Your business is often a huge asset, and you have probably spent a lot of time getting it to where it is today. Having the right insurance can ensure that it doesn’t get taken away from you. Bottrell Wealth can provide guidance and recommended insurance for your business. We also provide additional business services, such as valuation and shareholder agreements.
Key Person Insurance
Regardless of the scale of a business, every company has crucial figures that keep your cash flow coming in. In the event that just one of these large contributors were to leave or become unable to work, your business could lose substantial revenue in not only income but in knowledge and capital as well.
Key Person Insurance covers the costs associated with replacing this employee, with the policy taken out over the life of a particular individual that is sufficient to offset the estimated loss to the business if they should leave or die.
Revenue Insurance
A reduction in revenue is inevitable when a key person departs. If there isn’t a suitable replacement within the business it may be a costly and time-consuming process to find and train a replacement. Other losses that may occur, such as that can’t be met, errors of judgment by a less experienced replacement or reduced productivity through low employee morale.
Revenue protection can provide your business with cash to compensate for the loss of revenue and costs of replacing a key employee or corporate owner should they die, become disabled or depart unexpectedly.
Equity Insurance
Have you thought about what may happen if you or another owner of your business were to suddenly die? Most businesses don’t have a plan in place if the worst were to happen, and some have ended from that specific situation. Equality ensures fairness and impartiality to all concerned, in this case all owners of a particular business, with principles of unbiased dealing. Equity is essential for ensuring all costs and funds associated with the business are fairly divided amongst all. Ownership Protection can provide the continuing owners or their nominees with sufficient cash for the transfer of the outgoing owner’s equity to the continuing owners, should a depart for unforeseen reasons.
Debt Insurance
Tied closely to Key Person Insurance, Debt Insurance covers a critical individual in the business, as most debt obtained to establish a business are secured against Directors’ homes and often personal guarantees.
Shareholders Agreements
A contract between owners or shareholders of a firm is defined within a Shareholders Agreement. A Shareholders Agreement defines the mutual obligations, privileges, rights and the firm’s articles of association to each respective party. This is a crucial component of a business succession plan, ensuring a smooth transition to occur if and when a shareholder exits the business, and protects the interests of the continuing shareholders from the possibility of outsiders taking control of the firm.
Buy/Sell Agreements
Contracts of the Buy/Sell agenda are between the partners of a business, with detailed preparations for unambiguous events, including death, resignation or unforeseen medical issues of an individual. The Agreement will be linked to an equity holder’s insurance and will take into consideration the structure of the business and level of ownership. This form of insurance provides the remaining partners of the business an agreed amount of money to continue the company and fund the purchase of the departed equity holder’s interest.
Business Valuation
Looking to assess the Value of your business? Bottrell Wealth can effectively and quickly determine just how much you’re sitting on. As per the Buy/Sell Agreement contract, we determine the value of your business via multiple avenues, including Book Value, Industry Principles, Capitalised Earning or the simple Agreed Value.
To determine which avenue is the correct choice for your business efficient legal and tax advice must be given on the matter. Bottrell Business Consultants are the leading business in The Hunter for Accounting and Taxation matters, and are happy to help at any time.
At Maitland Bottrell Wealth, we understand the importance of protecting your business from potential risks. That’s why our team of experts in Maitland are committed to offering top-notch security to ensure the safety of both you and your business. There are various insurance coverage policies available, and our team can provide you with the most appropriate option based on your needs and requirements. Trust us to provide you with the best insurance solutions for your specific needs. Contact us today for a consultation and protect your business.
Contact us at @ Bottrell Wealth
93 Lawes St, East Maitland NSW 2323
P: (02) 4044 1748
E: office@bottrellwealth.com.au