ING Financial Services | Small business planning

Small Business Planning

If you own a small business, you have plenty of day-to-day challenges making sure you keep the doors open and make the business grow.

There are a few things that many business owners don’t consider that, if left unattended could easily bring your business to its knees almost overnight. And while we really don’t want to add more to your plate than you already have, we want to ask you to consider these issues and make sure they’re checked off on your “done” list as soon as possible.

Key “Man” Protection

Think about your most valuable employee (other than yourself, of course). What if you lost one of your key employees? What would you do to replace him or her? Would your business be financially impacted? Would you lose key customers or other business relationships?

Business Succession/Buy-Sell Agreements

Do you have a plan in place to transition the ownership of your business if you or one of your business partners dies? Without a well defined plan, you may find yourself suddenly in business with your partner’s spouse and children. How can you be sure that your own heirs would receive fair market value for your share of the company?

Executive Benefits
Do you have key executives who deserve extra special compensation? Have you done everything you can through qualified retirement plans and other types of compensation, but you’re still looking for more? We have some ideas for you that create a win-win for both you and your VIP’s.

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