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    Strategies to help business owners access their retained earnings.

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Business Owners

Strategies to help increase your personal cash flow, keep key employees and protect your business.

Financial Advice

Working closely with clients to achieve their financial goals.

Strategies for Every Stage of your Life

For Business Owners and Families

Five Essential Financial Planning Tips For Small Business Owners

Do you own your own small business? You’re not alone! There are over one million small businesses in Canada, and the number grows every day.

We want to see your small business succeed. To help you make the most of today and plan for tomorrow, we’ve got five great financial planning tips:

  1. Be sure to target top talent.
  2. Make the most of your loans and investments.
  3. Find tax efficiencies.
  4. Don’t forget about insurance!
  5. Good planning is key to your business’s future success.

Be sure to target top talent

One key to financial success is to have the best employees you can. To attract and retain great employees, you need to offer more than guaranteed employment and market wages.

Go above and beyond by offering flexible hours and the option to work at home some days. A robust employee benefits package is also a great way to help yourself stand out when prospective employees look at your business and job offers.

Make the most of loans and investments

One of the best ways to ensure the financial success of your business is to make the most of loans and investments.

When shopping for loans, look for options that offer low borrowing costs and flexible payback terms. For short-term and long-term investments, select opportunities that offer high returns with an acceptable amount of risk.

Find tax efficiencies

Taxes are just a part of life for both individuals and businesses. From compensating your employees to business succession planning, almost every business transaction has tax consequences. This is why it’s so important to be aware of the tax implications of your business transactions!

A strong understanding of the tax implications of business actions can help you better use tax efficiencies and help your business and personal wealth continue to grow.

Don’t forget about insurance!

When you run a small business, insurance can be a lifeline when things go wrong.
Do you have an employee who is critical to your company’s operations? If they are injured or die, your business could suffer massive negative financial consequences. Look into protecting your business with Key Person Insurance.

And what if something happens to you? How will this impact your family’s lifestyle? You can use insurance – such as critical illness, disability, or life insurance to help protect your family if you are injured, become ill, or pass away suddenly.

Good planning is key to your business’s future success.

Whether you want to sell your business to fund your retirement or want it to continue running after you leave, sound planning is the key to success. Combine succession planning with retirement planning as appropriate to ensure you can enjoy a financially secure retirement.

Reach out to us if you’d like to learn more about protecting your business!