Steps to consider; financial planning for business owners is complex and different
As a business owner, you will put your heart and soul into building your business, often, with it becoming one of your most important financial assets. Your financial plan should be able to guide you to make the most of the good years and ensure you are prudently preparing for the inevitable tougher years. This can help to make decisions about your income stream(s), assets, and expenses.
Financial planning for business owners is different to that of an employee because business owners have unique financial circumstances. Their financial success is usually dependent on growing the value of their company, which can often mean sacrificing their personal position in the short term.
Christopher Hewson, a Chartered Financial Planner at Medical & Dental, a specialist division of Acumen Financial Planning, explains some of the key differences when financial planning for business owners, in this recent article published in The Press & Journal on 12th May 2023.
Information is correct at the time of writing. This article’s content should not be considered advice or recommendation. Readers should seek appropriate guidance from their financial planner.