Financial Planning for Business Owners

Being the boss can be an exhilarating endeavor, but there are also significant risks to going out on your own. Unfortunately, the failure rate of small businesses can be high. What small business owners sometimes forget is that they need to adjust their own individual financial plans, for the new realities and risks of being a business owner.

Why Financial Planning Is Important For Business Owners

Strategic financial planning, for the short, intermediate and long-term horizons is vital for a business to succeed.

Without a sound financial plan navigating you through financial complexities, your business could falter or perish. For a business, comprehensive financial planning is essential for it to succeed, expand and flourish in the long run. 

What We Can Do For You

Here’s how our Business Financial Planning solutions can help you:

  • Contingency planning: Emergencies and unforeseen situations can arise anytime during the life of the business. It takes savvy financial advice to ensure you have the financial safety net to successfully weather the business through such events.

  • Taxation*: Thinking out-of-the-box can make a big difference when it comes to smart business tax planning.  There are may tax planning strategy’s to choose from, how do you know which one is right for you? Our advisors can work with your tax experts to create the best plan for you and your business long term.

  • Debt management: Is it best to borrow against business assets, or should you consider refinancing?  Or would it make sense to dispose of some assets to finance the debt? These are all important issues to consider when talking with your financial advisor.

  • Succession planning: What happens if something unexpected happens to you?  What if you wanted to step down, or take a less active role in the business.  Would you have the necessary resources to do so?

  • Retirement and Estate planning: When it’s time for you to step down, we’ll be right there to ensure you are able to enjoy the fruits of your hard work. Through strategic planning, we’ll make sure you not only enjoy your retirement, but that your legacy makes an impact on the next generation.

*This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.