At the start of 2021, there were 5.5 million small businesses in the UK with some 5 million of those businesses being family-owned. The impact of death and/or serious illness can be devastating and in the case of a family-run business potentially threatening the legacy of more than one generation (FSB and IFB Nov 2021)
How Nicholas James help business owners
We take the time to thoroughly fact-find our business clients in order to identify the main risks to their business before recommending a solution to mitigate them. We focus on the following areas:
- Business history and its future plans
- Who has been involved in the business, what are their roles and responsibilities, and how do they expect these to develop in the coming years?
- Does the business plan to expand, and how will it manage the associated risks?
We ensure that our recommendations are both cost effective and tax-efficient.