There are many things and many ways to approach this. To keep is simple we break it down into seven key areas.
1. Managing the ownership. Succession planning, shareholder transfer and buy/sell agreements for managed transfer and release of equity and shares.
2. Managing debt. Whether it is a key person or a shareholder being disabled, having a traumatic condition or even passing away, debt is something that needs close attention. This area can quickly become a problem if key people are disabled or ill for an extended period. This includes personal guarantees too.
3. Managing key people and resources. If someone key to your operation did not show up for a week, a month, 3 months, 6 months or never again, how would your business really cope?
These are people who have strategic importance to your business; like owner operators, directors, sales, marketing, intellectual property, operations, finance. The list can be quite extensive depending on your business shape and size.
4. ACC Levies. For small to medium businesses, ACC levy management is often a significant consideration with some businesses finding this is can be a significant cost with low perceived and/or delivered benefits. We can help keep these under control for you.
5. Health & Safety Planning. With the changes to the health and safety laws that came into effect in April 2016, all businesses need to ensure they comply with this legislation. This includes those people that are self-employed or contracting too. We can assist you with complying and often this allows you to access additional ACC levy discounts.
6. General business insurance, your building(s), your liability, your plant and equipment, your stock, as well as your freight requirements. All of these areas have specific risks associated with them that need specialist advice. We have access to both a range of insurers and specialists that are second to none. Which gives us the ability to be your one stopshop for your business risks.
7. Last but certainly not least, your wider staff. Businesses who employ as few as 5 people can access group insurance benefits with concessions. This can be an advantage for employees who cannot get insurance cover in the usual way and is often a higher perceived value than the monetary reward of a pay rise.
If you are in business, you have risk. If you are not talking to us, you are not accessing the most comprehensive risk management in the market. Many companies do bits of what we cover, however, none cover all of what we cover for business owners.
When you apply our business risk knowledge with subject matter specialists and apply technology to it, we can provide a significantly more effective solution to your risk management that is co-ordinated and integrated. Sometimes to a point that it is BAU, rather than being a bolt on to what you do, it is integreated and and self supporting with all of your staff.
Want to look at risk management in a way that drives your business rather than drags behind it, give us a call now.