Few sole traders have plans in place for death or illness
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Two thirds (67 per cent) of sole traders have no plans for the future of their businesses in the event that they become incapacitated or die, according to research conducted by MORI for Barclays Financial Planning.
Planning for such contingencies is more common among those over the age of 55, but even among this age group 25 per cent had yet to make any plans for the future of their business should anything happen to them. Almost half said they felt it was “too soon to think about it”.
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