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Guidelines for venture businesses

Sedgwick Independent Financial Consultants is issuing guidelines to local businesses which are looking to use Government venture capital funds.

The guidelines emphasise the importance of insurance cover to ensure the companies can repay loans. The IFA stresses the importance of income protection insurance cover and scouring the market to get the most competitive rates.

Last week, the Treasury said it would match £20m with £20m of public money for investment in local business. This follows the Budget package to encourage small firms.

Sedgwick IFC sales director David Farrell says: “Many people focus so much time and energy on getting their business plan right and then on establishing the business itself, that they forget to think about putting protection plans in place to provide security for themselves, their families and their fledgling company.

“It is essential that new business owners get independent financial advice to help them select the right products.”

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