Running a business is a hard enough thing for anyone, even highly trained professionals. But wouldn’t it be great then if some of the worry of running and growing a business could be taken away? Obvious rhetorical questions aside, insurance for buy and sell agreements can do just that.
It might come as a shock that Forbes revealed that 80% of businesses fail. That figure is for the first 18 months, so over a longer period that number rises. One major area of concern is the death of a partner in the business.
Their share would need to be paid out and that can be done in different ways. But for small to medium enterprises finding the capital to actually pay out the partner’s share can be difficult. Many businesses often have to resort to crippling loans. But at Compendium we not only give buy and sell insurance, we provide a service that makes the painful and difficult process of losing a partner that little bit easier.
With our cover you don't need to try and scramble for new investors or sell off assets to cover the amount owed to the deceased's family. It will mean that none of those stressful steps have to be taken in order to simply take care of what is owed in terms of the business partner’s stake.
Making your business easier and helping with your continued success is our mission. So talk to us about getting cover that protects your company and its partners’ families. You’ll have fewer worries, and will be able to focus on growing the company. And if the worst should happen, we’ll take care of things in a professional and compassionate approach and deal with the claim quickly.
At Compendium we offer a highly flexible insurance policy for all your different insurance needs. Our goal is to provide specialised, innovative and affordable financial solutions that cater for all different types of insurance requirements.
This includes individuals and businesses ranging from small enterprises to large corporations.
If you'd like to find out more about us, visit our webpage at www.cig.co.za, or contact one of our brokers on: 087 724 9390.