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As a business owner you recognize the importance of delivering a good product or service and standing behind it.

Keeping books balanced, hiring qualified employees, beating the competition and meeting ever-increasing customer service expectations are cornerstones to a successful business.

As hard as you have worked to build your company, it is imperative to address the issues of retirement planning, business continuation and rewarding and retaining key employees, all your efforts could be in jeopardy.

Some Key Business facts

Only 43% of small businesses have a business continuation plan in the event of premature death of the owner.

Only 32% of small businesses have a retirement succession plan, despite the fact that many are family-owned.

Only 49% of small businesses have an estate plan, and ever fewer have life insurance to pay estate taxes.

Only 33% of businesses sponsor a 401(k) plan and only one in 12 have set up some sort of a business-sponsored retirement savings plan.

Source:Business Owners Need More Advice On Their Finances. LIMRA Int’l, October, 2005
Ask yourself these extremely important questions:

What would happen to your business today if something suddenly happened to you?

What would happen if you were disabled or if you simply decided to retire?

Would your business go on running smoothly without you, or would there be arguments over who should make executive decisions?

Would your key people stay on, or would they begin looking for opportunities elsewhere?

Would your best customer stay, or are you the reason they do business with you?

Good business planning is more that just ensuring the stability of your business should you die or become disabled. It also includes using the business to reward yourself and your key employees while you are living.