Business Continuation
When you enlist the help of Prosper Financial, our business professionals will analyze your business and identify potential risks. We will then work together with you to develop a business continuation plan that aims to cover all bases, from health emergencies to natural disasters.
Business Continuation
When it comes to daily operations, business owners face a variety of challenges and obstacles. It is essential to not only address the present but also to plan for the future when you own a business. Prosper Financial is here to help take some of that stress off of your shoulders. We will guide you through the process of creating a business continuation agreement or a business continuity plan so that you can rest easy knowing your business will be protected when the unexpected occurs.
Business Continuation Agreements
It can be overwhelming and complex to create an effective business continuation agreement. Our business planning professionals will guide you through each step of the process. Our objective is to ensure that your wishes are carried out should you pass away unexpectedly or decide to exit the business earlier than planned. A common element of business continuation agreements is a buy-sell or buyout agreement. This agreement will specifically outline what should happen if the owners separate. It is important for this agreement to contain four main points:
- The type of event that would trigger the agreement
- The plan for buying out the owner’s interest
- The cost of that interest
- The requirements to buy the interest
Presently, this agreement may seem like something that your business does not need. However, it can benefit all parties involved should something happen in the future.
Business Continuity Planning
Properly preparing for the unexpected also includes business continuity planning. This process identifies events that can disrupt the operation of the business and interfere with success and attempts to reduce the negative effects of such events. Some common events that business continuity plans address are natural disasters, a crisis such as the death of a CEO, a major security breach, or a terrorist attack. Your business continuity plan may also account for things like operational risk and risk financing.
It can feel overwhelming and stressful to try to predict and prepare for the unknown. Our goal is to be your trusted partner in this process and create a plan that will help reduce the negative feelings associated with planning for the unknown. We strive to assist you in preparing a business continuity plan that is both flexible and effective and meets the specific needs of your business.
Your Source for Business Continuation Planning in Indiana
There are many ways to be a smart business owner. One of those ways is to have a plan in place if something goes wrong. We offer personal attention and individualized services. To learn more about the business continuation planning process or to get started today, call our office to schedule an appointment.
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