Business Protection

Business Protection

There are many approaches to protecting your business. Doing nothing is not one of them.

Mainstay will work with you to develop a robust Shareholder Contingency Agreement, backed by insurance, which will provide a framework for your intentions to be carried out in the event of

  • Inability to work
  • Serious illness 
  • Death 

Mainstay has a long-term process where your Shareholder Contingency Agreement is reviewed and updated regularly.

You may have thought about Shareholder Contingency Agreements or even have a plan in place. These are often deficient or out of date and can be a potential time bomb.

How can we help you? Problems that business owners face include:

Business Ownership – losing a shareholder or business partner

How would your business continue if something happened to you or another shareholder? The loss of a shareholder/business partner could have a big impact on your business. We will work with you to obtain appropriate protection through your Shareholder Contingency Agreement, preserving ownership for the surviving shareholders in the event of death, inability to work, or serious illness.

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Business Debt – meeting loan repayments

Many businesses have debt at one time or another, and these debts are backed by personal guarantees. In the event of death, inability to work, or serious illness, a Shareholder Contingency Agreement accompanied by appropriate insurance protection will ensure these debts are paid.

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Key People – losing your most valuable asset

Who is important in your business? If they were unable to work, how would that affect profitability? Your Shareholder Contingency Agreement will ensure that if a key person is unable to work in the business, sufficient funds are available to keep the business operating with no financial losses.

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