Committing to quality risk management for your business means that you will be prepared for the unexpected events that can happen. Hoping for the best and planning for the worst is the vision when setting up a business and reviewing on a regular basis the potential risk.
How we can help you with your business:
When there is more than one owner of a business, a buy-sell agreement can be set up in the event that one partner dies the estate transfers to the other owner.
Key person risks.
We can help you put together a risk management plan which will identify the key person risks within your business. The impact & costs associated with an important employee or owner becoming sick, disabled or dying can be catastrophic. Ensuring that you communicate the plan with all your employees. Other risks to businesses to consider are, property losses, business interruption losses, liability losses and injury to employees.
Fixed cost management.
All businesses whether small or large have a cost associated with running the operation. A well researched and developed plan can ensure to keep business owners on track with these costs.
Keeping business and personal assets separate is imperative when starting a business. Identifying potential risks to the business and how to respond to them, reviewing the risks on a regular basis as risks can change and attending to the risks that are most likely and most expensive first.
Insurance is vital part of risk management, it should not be forgotten or minimized.
Financial transactions create risks for companies. A financial plan should be set up and followed to ensure that debts are paid down and that cash flow during quiet times is foreseen. If the business sells its products on credit, ensure that strategies to mitigate risks are in place to minimize the businesses exposure. If the business is dependent on borrowed funds / increases in interest or reduction in income from interest, consult your lender for assistance in managing interest rate exposure.
These are just a few areas to consider when looking at business and cash flow and managing the debts, we can help talk through them all with you.
Find out if your business is set up to plan for the worst, call us today!
How we have helped others achieve their financial goals
“Sebastian is a very knowledgeable financial advisor, his professionalism and thoroughness in areas in helping clients to achieve the outcome their after is very unique. I can’t recommend Sebastian’s services enough for anyone looking for his services.”
“Sebastian has always been a strong advocate in providing people with the knowledge to manage their finances. In an environment that regularly changes it is often very difficult to make accurate decisions pertaining to your finances and superannuation. I have found that Sebastian is approachable, can break down a lot of the finance tech talk to layman’s language and then assist you with options depending on your goals. I always feel confident that he is in the ‘know’ and able to react quickly taking advantage of changing legislation. He is both friendly and professional with a high level of customer service/support. I have no trouble recommending him to anyone serious about staying in control of their finances.”
“I have been using Wealth Depot Financial Advisers for the last two years. I have worked directly with Sebastian Mazza and have always found him to be available for any queries – no matter how small they are. He never hesitates to explain something again to me if I have not fully understood any processes. He deals with any issues in a very timely manner. I would recommend him for anyone seeking financial advice.”
At Wealth Depot we work in closely with many different service providers to help our clients remove complexity and better improve their understanding of financial products and services. Today, I would like to introduce one of those specialists to discuss how this process has provided benefits to our clients. Watch testimonial video below. read more
We have known Peter and his wife, Robyn, for nearly 4 years and throughout those years we have developed a great relationship. We also service their parents, thus we have enjoyed a close and personal relationship with the entire family. We have helped Peter and Robyn with their Self-Managed Super Fund and investment strategies. Most… read more
We met Colin in 2018 and he wanted to ensure his superannuation was best structured to grow and support his retirement goals. We made sure he had the right risk protection and estate planning in place so that he knew, should anything happen to him, his family will be ok. Watch testimonial video below. read more