About Business Protection
Why should you sell business protection?
The business protection gap is estimated to be £1.1 trillion* – so you can see what a great opportunity this is. By identifying potential clients and building relationships within the business community, you can help meet your clients’ business protection needs and expand your own business.
While clients might be aware of the need to protect their business, they need advice to identify the right options. We’ve developed this toolkit to cover a range of issues, from segmenting your existing client bank to developing professional connections. We’ll also cover the tax and trusts solutions for the different types of business protection arrangements.
Did you know…?
The business protection gap is made up of:
- corporate debt gap of just under £300 billion
- shareholder protection gap of over £400 billion
- key person protection gap of over £400 billion*
There were an estimated 4.8 million private sector enterprises in the UK at the start of 2008 – each with their own specific financial needs. Of these, 1.3 million were limited companies, 500,000 were partnerships and 3 million sole traders.**
*British Chambers of Commerce, Redefining the business protection gap, 2009
**Small and Medium Enterprise Statistics 2009, Department for Business Innovation and Skills