A quarter of SMEs would use cash reserves if owner died

According to Legal & General's most recent ‘State of the Nation' research, 25% of small-to-medium enterprise (SME) business owners would rely on their business' cash reserves if a fellow business owner passed away unexpectedly, while 51% would use their own personal wealth. The findings also revealed that while 37% would expect to purchase the business owner's shares in this scenario, 47% have no specific arrangements in place to transfer these shares. The survey of 800 small business owners showed that one in five (20%) business owners said they have no will or any instructions about...