Why is Business Protection Important?

Hassan Juma Backer (HJB), a well-established businessman's unforeseen mistake left more than 1200 employees in the middle of nowhere.

The Story of HJB is seen all over the news, irrespective of the truth behind the board members legal cases, the result was held for investigation

However, this story is being shared with the reference links too, with an intention to assist business owners analyze the risk and take right decisions to prosper and leave a legacy.

Actions like having a Legal Will and Business Protection could avoid these circumstances.

A Legal Will could state next ownership and Business Protection would help with all the payouts preventing time and business loss while keeping the legacy intact.

If only the Will was in place, the tussle for power would not take place and if the business was protected, Insurance would pay all the workers depending upon the coverage the company holds.

In case of a Business owners unfortunate death,

1.        All the Bank accounts would freeze

2.        Tussle for the power begins

3.        Payables are immediate

4.        Receivables are delayed etc..

PS: Highlighting this news once again to remind the importance of financial planning so that Businesses can ready to leave a legacy.

As financial consultant, I forecast the adversities & uncertainties that families and businesses can face, while doing so, we provide holistic solutions… Consult, Understand, Ask Questions, Do the Right Thing for Yourself, Your Families & Your Businesses.

As far as I believe, this #Covid-19 will pass too…

With whatever is happening around us today, I am sure we all are going through common situations and are trying everything possible to stay healthy, stay positive.

As a Financial Consultant, I want to do my bit to the community I live in. I have decided to share the situations, the adversities that I come across in my day to day endeavors that can help each one of us to think about ourselves and our families and while doing so take right actions.

#Stayhome #Staysafe #Stayplanned #Staystrong.