Offering a retirement benefit plan can help your business attract and retain employees while making it easier for you to save for your retirement. Fortunately, choosing a plan may not be as difficult as you might imagine.
As an employer, you have an obligation to provide your employees with compensation in exchange for work performed on your behalf. Also, you have the opportunity to create an employee benefit plan that will improve the satisfaction of current employees and enhance recruitment efforts, as well as provide tax incentives for your company. Offering a solid benefits plan will increase your competitive edge by attracting and retaining top talent.
A well-crafted educational presentation can go a long way toward boosting participation rates in your company’s retirement plan. By targeting the information session to your employees’ needs, you can help them make the most of their retirement plan option.
What Is Your Succession Plan?
Business owners are often so busy with the day-to-day issues of running and growing their companies that the issue of business succession is often overlooked or left on the “back burner” until it’s too late. What would happen to your business if you died or were unable to work due to disability? Would your co-owners, managers, employees, and family members know what to do, and would they have the guidelines and tools needed to maintain your business?
What will be the legacy of your business?
As a business owner, you have most likely devoted countless amounts of time, energy, and money into building and managing your company. As a result, your business may comprise a significant portion of your estate. Unfortunately, the business that provides for you and your family now may not do so at your death. What will be the legacy of your business when you die?
A buy/sell agreement is a contract between owners, or the business itself and owners. It is a legally binding agreement that obligates the estate of the deceased to sell the interest of the business, defined at a predetermined price, to either the business itself (in a redemption agreement), to co-partners or shareholders (in a cross-purchase agreement), or both (in a hybrid agreement). It creates a market for the business interest of the deceased, sets the price, and governs the transition of the business. We have several solutions and ready to take this burden off your plate so you can focus on running and growing your business knowing you have the right succession plan in place that will carry on your vision for your business.
Start your business succession planning today!
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