Wyke Business Protection
Among the attendees were consultants, photographers,
Building momentum with workshops and client cases
Following its successful launch earlier this year, Wyke Business Protection is already making an impact in the business community. T e fi rm has hosted two well-attended events and delivered tailored protection solutions for local businesses, demonstrating the real- world value of its consultative, open-market approach. Wyke Business Protection provides business protection
and insurance solutions for UK organisations, with a focus on safeguarding owners, directors and employees. Services include key person insurance, shareholder protection, business loan protection, employee benefi ts and tax-effi cient life cover. As a sister company to Wyke Financial, a long-standing
Northamptonshire mortgage brokerage, Wyke Business Protection combines decades of expertise with open-market access to deliver impartial, bespoke strategies. In early September, Wyke Business Protection was delighted to
run successful workshops aimed at SMEs across Northamptonshire. T ese workshops were carefully designed to demonstrate the very real dangers and risks that business owners face and how they can mitigate those risks and ensure continuity in their businesses.
insurance brokers and cleaning contractors, who all agreed that the interactive elements of the workshops really helped them to understand the impact that unexpected events can have on an organisation. Workshops form a key part of Wyke Business Protection’s strategy
to educate SMEs and larger organisations on the importance of proactive planning for business continuity.
Case highlight: protecting a 50/50 shareholding partnership A recent case brought to Wyke Business Protection by a trusted legal partner highlights just how critical shareholder protection can be.
The problem Two unconnected shareholders, each holding 50% of a business, approached their law firm seeking advice on a shareholder agreement and cross-option arrangement. Without protection in place, the risk was clear: if one shareholder were to pass away, their next of kin would inherit the shares, despite having no knowledge, experience or interest in running the business. T is could have resulted in:
■ T e surviving shareholder being forced to work with an unwilling benefi ciary.
■ T e deceased’s estate demanding a buy-out, which neither shareholder wanted to fund from personal wealth.
■ Potential disputes over company control. ■ The risk of shares being sold to a third party, disrupting business continuity.
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