Guides for Business Owners
Practical Financial Guidance for Directors, Partners, and Founders
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Running a business creates a unique set of financial risks and opportunities that standard advice rarely addresses. Whether you are a limited company director drawing dividends, a partner in a professional services LLP, or a founder building a high-growth startup, the way you earn, protect, and borrow is fundamentally different from a salaried employee.
These guides are designed to help you understand the financial strategies available to you, the risks of leaving them unaddressed, and how Broadbench can help you put the right solutions in place.
Choose Your Business Structure
The guides below are organised by business structure. Select the section most relevant to how you operate, or browse all guides to explore the full range of strategies available to business owners.
As a limited company director, your personal wealth is closely tied to your company’s performance. You likely draw a combination of salary and dividends, and may retain significant profits within the business for tax efficiency. This creates specific challenges: standard lenders undervalue your true income, and standard insurance products are not structured to work through a limited company.
The guides below address the most important financial decisions you will face as a director, from protecting your shares and your income to securing a mortgage that reflects the true value of your business.
Guide | What It Covers |
What happens to company shares if a director dies, and how to ensure surviving directors retain control. | |
How to pay for life cover through your limited company, saving up to 50% compared to a personal policy. | |
How your company can fund a policy that replaces your income if illness or injury prevents you from working. | |
How to protect your company’s revenue if a crucial director or employee is unable to work. | |
How specialist lenders assess affordability based on your share of net profit, not just your drawn salary and dividends. |
Operating within a Partnership or Limited Liability Partnership creates a web of shared financial responsibilities. Your personal income, your liability, and the long-term stability of the firm are inextricably linked to your fellow partners. This is particularly common in professional services: law firms, accountancy practices, architectural firms, and medical partnerships, where the LLP structure is the norm.
The guides below address the specific risks of shared ownership and the challenges of securing personal finance when your income is derived from a share of the firm’s profits.
Guide | What It Covers |
How to ensure surviving partners have the legal right and the funds to buy out a deceased partner’s share. | |
How to protect the firm’s revenue if a major fee-earner or managing partner is unable to work. | |
How the LLP can fund a policy that protects your profit-share income during long-term illness. | |
How specialist lenders assess profit-share income, and what documentation you need to secure the best rates. |
Building a startup means your personal financial planning often takes a back seat to company growth. Yet the financial structure of an early-stage or scaling business creates acute vulnerabilities. Your income may be minimal while your equity is substantial, and the entire value of the company may rest on the expertise of one or two key founders.
The guides below address the specific challenges of protecting investor interests, securing the business against the loss of key personnel, and obtaining personal finance when your wealth is tied up in company equity.
Guide | What It Covers |
Why investors often require this cover, and how it protects the company’s valuation if a founder cannot work. | |
How to ensure that if a co-founder dies, their equity does not pass to an uninvolved family member. | |
How to provide tax-efficient life cover for yourself and early employees, paid for by the business. | |
How specialist lenders assess affordability for founders with low salaries, complex equity structures, or recent funding rounds. |
Real-World Examples from Business Owners Like You
The financial challenges facing business owners are consistent across industries, but the specific context varies. Our case studies illustrate how directors, partners, and founders across different sectors have used Broadbench to protect their businesses and secure their personal finances.
Speak to a Specialist
If you are unsure which guides are most relevant to your situation, or you would like to discuss your specific circumstances with an expert, our team is here to help.
We work with business owners across all sectors and structures, and we will take the time to understand your business before making any recommendations.
FAQs
Can I pay for life insurance through my limited company?
Yes. Relevant Life Insurance allows company directors to provide a death-in-service benefit for themselves and their employees, with the premiums paid by the company. This is often highly tax-efficient compared to paying for a personal policy out of post-tax income.
Do LLP partners need different protection than limited company directors?
Yes. While the underlying need to protect the business is similar, the legal structure of an LLP requires specific partnership protection agreements to ensure that if a partner dies, the remaining partners have the funds and the legal right to buy out their share of the business.
What happens to my business if a key employee falls seriously ill?
The loss of a key salesperson, technical expert, or managing director can severely impact revenue and confidence. Key Person Insurance provides a cash injection directly into the business to cover lost profits, recruit a replacement, or pay off business loans during this critical period.
When should business owners review their protection arrangements?
Protection should ideally be reviewed whenever there are significant business or personal changes, such as:
- Bringing in new shareholders or partners
- Taking on business loans or investment
- Significant changes in company profits
- Changes in personal financial commitments
Regular reviews help ensure protection continues to reflect the current structure of the business.
Ready to secure the cover that’s right for your business?
Fill out the form below to arrange a time to speak to an expert for your business structure and requirements.