Manage my day-to-day operations

Keep your business running smoothly

Safeguard your business so you can focus on running it

Whether you’re just starting, or have an established business, it’s never too late to think about how to protect your business in case of the unexpected.

Here are some questions to ask:

  • Do you have the right level of insurance?
    Check your insurance cover on a yearly basis to make sure you’re protected for the right things. There are a range of insurance options you can consider to protect your things or your key people. Being under-insured can be risky and being over-insured can be a waste of money.
  • Is your business protected by a will or succession plan?
    It’s a good idea to have an up-to-date written plan for how you want your business handled if you pass away while you still own it. Without this, the ownership and running of your business may be a complicated issue for your desired successors.
  • Are your investments diverse enough?
    After making investments in your business for some time, it may now be wise to build up assets outside your business. Depending on your circumstances, it may be in your interests to diversify.

It’s important to speak to an Adviser when you’re thinking about setting up business protection or making changes.

Find an Adviser  >

Know your business and your obligations

  • Make sure you have adequate cash on hand for at least your immediate and short-term business needs
    You will also need to consider how your personal cash needs can be met.
  • Know how much your business is worth
    Even if you don’t plan to exit your business any time soon, it’s important to have an accurate idea of how much your business is worth.
  • Factor in KiwiSaver
    As an employer you have a few obligations, including some around KiwiSaver. It’s important to meet these as not only will you be doing the right thing for your employees, you’ll also avoid penalties or disputes that could result from not complying.

Get the right level of cover

As your business grows, your insurance needs will change. Other than the obvious business insurance like liability insurance and property insurance, you may need to start considering some of the following insurance options:

  • Key person protection
    If you have an employee who is critical to your trading operations, such as a specialist designer, top salesperson or you as the owner, you can get cover so that if they were unable to work (for example, due to illness or injury) your business can keep operating.
  • Business expenses cover
    Eligible monthly business expenses will be covered (up to a maximum amount) if you or another key person you’ve covered is unable to work due to illness or injury.