Paris Financial Services understands that small business owners need Financial Solutions to maintain and protect their business.
Business Protection - Key Person
Each business usually has a handful of staff without whom the business would struggle. This might, for example, be a key member of the sales team, designer or skilled labourer. Should those people be unable (for health reasons) to contribute, the business could receive capital or income to replace them or the lost revenue.
Business Protection - Shareholder
When business ownership is shared, the consequences of any death or disablement of any shareholder are dramatic on those remaining shareholders. Agreements are often necessary to stipulate under what circumstances, price and conditions any shareholding should be transferred.
Under Superannuation legislation, business owners can purchase their trading property within their Superannuation fund(s). Having the company pay rent to your own Superannuation fund may prove to be tax-effective & property value growth will be subjected to discounted capital gains tax.
Gauging when retirement is affordable and feasible will influence the timing of any business sale or succession plan and also the extent to which you may wish to be retained as an employee/consultant to the company post-transfer.
Business Financial Protection
You have worked hard to get where you are in business – protection and planning around your assets is a key part of any business plan.
We offer financial advice for small to medium sized businesses. A successful business has many financial challenges and financial advice is a must to ensure your business is protected. Our Private Wealth Advisers work closely with our Small Business Tax Champions to ensure every aspect of business is covered. We provide our clients with financial advice and solutions in crucial areas of business risk, asset protection and wealth accumulation.