Business owners face unique challenges.

Owning and operating a small business can be hard. While the rewards can be great—independence, being your own boss, following a passion or a dream—running a successful small business requires much work and sacrifice.

KRB Financial understands what’s a stake for small business owners like you. This is why we offer a comprehensive menu of small business solutions including:

• Risk Management – Risk management is a broad term that refers to a number of strategies and solutions aimed at minimizing risk and liability. Because owners are so focused on the daily operating tasks of their companies, risk management often gets overlooked. However, it can be an important process of protecting the life of your business.
• Buy- Sell Agreement – A buy-sell agreement is an arrangement between partners or shareholders that defines how ownership stake in a business is transferred upon a qualifying event. Usually, this event will be death; but can include disability and retirement as well. Most buy-sell agreements use life insurance to fund the structure. When the qualifying event occurs, the remaining partners use the life insurance benefits to purchase the departing partner’s ownership stake.
• Key Man Insurance – Many businesses rely on a handful of key employees. Losing a key employee due to death, disability, or retirement, can place financial and operational stress on a company. A key-man insurance policy protects a company by providing a benefit in the event of a qualifying event. The company is both the purchaser and beneficiary of a life insurance policy made on a key employee.
• Group Life Insurance – Group life insurance is not just for large corporations. For small-to-mid-sized business, group life can be an effective way to reward and retain quality employees.
• Employer Retirement Solutions – As a small business owner, you may feel that retirement solutions—such as the kind you would find with a larger, established business—are out of reach for yourself and your employees. However, there are numerous solutions available to you that can help build a retirement source.
• Exit Strategy Planning – While you focus on the life of your business, it is important to consider your exit plan. What does this mean? An exit plan simply outlines what will happen to your company when you retire and how you redeem value out of what you have built over the years. Will you sell the company? Transfer it to a key employee or family member? Your choice of exit plan will involve documentation and tax considerations. We are here to guide you through your options.