Creating the future you want for your company
There’s a lot to think about when you run a business. But have you considered the risks you’ll be running if you don’t plan your finances effectively? There are many different options and opportunities out there that can make your money work harder – and Foinaven are here to help you explore them.
Business protection
As a business owner, there are legal and ethical requirements around protecting your assets and your people. The aim is to reduce risks and protect yourself against liabilities. We can help you choose the right policies at cost-effective prices, from Employers’ Liability Insurance through to Professional Indemnity cover, so you can minimise disruption and keep on trading if a problem arises.
Exit strategy
Without an exit strategy, it’s hard to plan effectively for the time when you decide to leave the business. The sooner you put a plan in place, the better the outcome is likely to be. Your dedicated Foinaven Financial Planner will help you decide how and when to exit your business, so you can put a strategy in place that makes the most of the opportunities on offer.
Partnership and shareholder protection
When a person integral to a business dies, suffers an accident or injury, or becomes ill, the consequences can be disastrous for the company’s financial health. Putting partnership or shareholder protection in place gives you peace of mind that, if the worst happens, your business can stay open and hopefully continue to thrive and grow.
Pensions
At Foinaven, we work with small and medium sized business owners to help them plan effectively for retirement through sound financial advice. For example, did you know that you can use your personal pension to reduce the amount of tax you pay? Our expert advisers can help you spot and act on a range of opportunities to mitigate tax, maximise income and extract cash from the business efficiently.
We can also assess your Auto Enrolment needs for your workforce pension and help you put a qualifying scheme in place, so you stay within the law and avoid incurring fines.
Business investments
When it comes to building up cash reserves, many business owners simply leave them in their company or personal bank accounts. However, there are cash extraction options that mean your reserves could be utilised in a more tax-efficient and rewarding manner. Foinaven can help you explore and implement the opportunities open to you and which are most appropriate to your needs.v
Group arrangements
These include arrangements such as Death in Service payments, Group Pensions and Sickness & Disability Pay. There are a huge number of options out there and it can be time-consuming and confusing to research them yourself. Let Foinaven take the strain.
Our experienced Financial Planners will take the time to understand your business and its unique needs and recommend the right solutions for you and your team. Arrangements can even be segmented by different levels, as you might want to provide enhanced benefits for senior managers, for example.