14/12/2022
🪐 Discover PRIVILEGED access to financial solutions for you to navigate through challenging business environment with your BEST PEOPLE BY YOUR SIDE⚡
You have built your business over the years, survived the wide-ranging impact of COVID-19, and experienced the recovery of business activity till now. As you think about your next move, factors such as revenue, costs, and lending rates may weigh on your mind.
As you may know, business activity and growth are expected to slow down in the near future. This means that businesses will operate in a more challenging environment, surviving and remain profitable.
The following are some issues for your consideration;
🔧 Business partner/key persons leaving the business during challenging times
🔧 Death or permanent disability of business partner/key persons affecting credit availability
🔧 Death or permanent disability of business partner/key persons affecting business operations
❗Not having these plans in place may lead to negative consequences – loss of confidence from stakeholders, loss of profitability in the short or long term, cease business in a disorderly manner etc.
As you lead your people to navigate through challenging business environment, you want to keep your best people by your side, in the best interest of that person and considerations critical to the survival of the business.
Let me share with you how these issues can affect your business operations;
🤝Employee replacement – During challenging business environment, there is greater competition for top talents. This means that employer will likely have to make more effort and compensate higher to recruit. Employee will also have a shorter transition time to deliver results critical to the survival of the business. These issues put strain on both the employer and employee. Research favours retaining an existing employee.
🏦 Credit availability – During challenging business environment, credit is not as widely available and not at an interest rate as favourable. Maintaining existing credit lines is crucial for business operations and to pay off debts. In the event of death or permanent disability to business partner/key persons, lenders may withdraw credit to the business, leading to financial difficulties and/or the ceasing of business in a disorderly manner.
✍️ For many businesses, retaining business partner/key persons and ensuring business continuity can be the single biggest decision they have to make.
Therefore, what you need is an independent, holistic assessment and discussions on how you want to retain your business partner/key persons and how to ensure your business continuity.
I think you deserve the following:
✅ Have an in-force policy to incentivize and retain business partner/key persons
✅ Have an in-force policy to protect the business and business partner/key persons in the event of his/her death or permanent disability
✅ Have an in-force policy to assure creditors and stakeholders of business continuity
✅ Availability of multiple financing options and credit lines
✅ Lifelong partnership to consult on business and financial matters.
Reach me at WhatsApp/phone call +65 8129 8253 or email at [email protected]
