Helping Small Business owners better prepare for retirement
The majority of small and medium enterprise (SME) owners consider the sale of their business to be very important in funding their retirement.


According to the white paper ‘Bridge the Gap' one-in-five respondents admitted that their business would be unable to fund their livelihood and expenses for longer than a week in the event of their unplanned absence, demonstrating a sizable gap in most SMEs' insurance coverage. SME owners put themselves at risk if they rely solely on the sale of the business and the assumption that it will remain viable for sale — upon retirement.
SME owners were responsible for ensuring the livelihood of around 4.7 million working Australians, the research suggested they were typically less conscious of the risks around their own financial wellbeing.
SME owners are relatively unprepared for the future when it comes to planning for their financial security — in terms of both their ability to continue supporting their livelihood following an unexpected event, as well as their plans for an eventual retirement.
While it can be difficult to find the additional cash for life and total and permanent disability insurance, small business owners can access these through superannuation, an affordable means of helping them take control of their financial future should the unexpected happen.
If you would like more information please call MGH Financial Planners on 02 6882 5922, we are here to help.