The Need For Business Protection

The statistics speak for themselves:
The business protection gap now includes:

* Corporate debt gap of just under £300bn
* Shareholder protection gap of over £400bn
* Key person protection gap of over £400bn

In order to calculate these figures, we conducted research amongst 1000 members of the British Chamber of Commerce in April 2009. The study showed that 45% of business owners say that their business would fold within 12 months of the death or critical illness of a key person. However, only 4% of business owners questioned said they have shareholder protection in place and one in two (48%) do not have any formal agreement to establish what would happen in the event of the death of a business owner.

51% of the businesses surveyed have corporate debt yet just 38% of these businesses have life or critical illness policies in place to cover that money owed.

With these figures in mind we at The Money Helper have launched an independent Business Protection Solution. I will be posting various solutions to these problems that business owners face in the coming weeks.