Monthly Archives: August 2019

What happens when a small business owner dies?

Originally written by Partner Content on Small Business
The sudden death of a business owner may destabilise a business and can quickly lead to financial difficulties. Surviving business owners could lose control of a proportion or, in some circumstances, all of the business. The family may choose to become involved in the ongoing running of the business or could even sell their share to a competitor. This is where Shareholder Protection Insurance steps in.
According to financial advisers, Drewberry, half of small businesses do not have the legal structures needed to make sure they can buy a colleague’s share of the business from their family when they die. For many SMEs, that means the possibility of losing control of the business.
Only 43pc of business owners have any business life cover in place in the event of their death or incapacity.
What is Shareholder Protection Insurance?
Shareholder Protection Insurance allows the remaining partners or directors to remain in control of the business following the death of a business owner. If there is no share protection in place, the owner’s share in the business may be passed to family members uninvolved in running the business.
A share protection policy can help avoid these issues by providing the

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The essential guide to starting a business in Birmingham

Originally written by Anna Jordan on Small Business
If you’re thinking of alternatives to London for starting your business, you might be considering Birmingham.
In 2018, 18,590 businesses were created there and it’s the most popular destination for those moving out of the capital last year.
In this year’s Birmingham City Council update, businesses are reported to have a three-year survival rate of 51.9pc. What’s more, despite economic uncertainty, companies felt generally positive about conditions in Birmingham.
Is it really a prime spot for business, though? First, let’s take a look at some vital stats.
Population
Mid-year population figures estimate that 1,141,400 people live in Birmingham. A majority of 64.3pc are working age, 22.8pc are children and the remaining 13pc are pensioners. It has the highest percentage age of people under 20 of any core city at 28.6pc and with four universities, you’ve got plenty of access to young talent.
Crime rate
There are conflicting studies around whether Birmingham is a safe or an unsafe city. Police statistics say that in the year ending December 2018, the crime rate in Birmingham was lower than average (95.69 per 1,000 population) compared with similar areas like Manchester (172.77), Leicester (121.45) and Liverpool (120.38).
House prices
According to Rightmove, the average house price

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