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You will find that the success of almost all small and medium-sized businesses is dependent on a few people who make a significant contribution.

These key people can include the owners, senior directors, sales people, production managers, research and development staff or other people with specialist skills or knowledge.

Often a person’s value to the business is reflected in their remuneration package. When you are trying to identify the key people this can be a good place to start, although this may not always be the case.

Whatever the key person does, their loss could have disastrous consequences for the business. Some of the problems the business may face are:

Loss of profits.
The need to recruit or train a replacement.
Loss of important personal or business contacts.
Difficulties in meeting existing loan repayments.
Loss of confidence from suppliers and customers.
Difficulties in raising new finance for new developments.
Loss of detailed knowledge of the businesses processes and systems.
Having to repay a loan the key person has made to the business.
Loss of goodwill.
Having the right protection in place can help to ease all of these problems.

Sense Business Solutions aims to arrange for a cash injection if the key person dies or suffers a critical illness. It can also provide a regular income for the business if the key person is temporarily disabled and unable to work. It can’t stop the unthinkable from happening, but it can make dealing with the consequences a little easier.

    Sense Financial Solutions    
  Sense Financial Solutions

The guidance and advice contained within this website is subject to the UK regulatory regime and is therefore restricted to consumers based in the UK.Sense Financial Solutions is authorised and regulated by the Financial Conduct Authority under Financial Services Register number 616273.Sense Financial Solutions Ltd is registered in England & Wales at Companies House, number 5313395.Registered Office: 43 Walcote Drive, West Bridgford, Nottingham, NG2 7JQ
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