SMALL BUSINESS FINANCIAL PLANNING

Keeping your business financially secure

We understand that running a successful business takes a considerable amount of time, commitment and dedication

Business owners often have little time to think about business protection and organising business finances. Together we can plan ahead to help you to achieve your financial objectives and help provide financial security for your small business over the long term.

Business Financial Planning Service

As part of our business financial planning service, we will undertake an in depth review of your business and work with you to implement a tailored insurance programme to protect your business from a wide range of risks. We will regularly review your policies and advise if they need to be updated as your business grows and evolves.

Auto enrolment - understanding your company's obligations

In 2012, the Government introduced workplace pension reforms known as auto enrolment. Business owners are obliged to provide a workplace pension scheme and to understand what a qualifying scheme is and how it will work. We can help you to understand the requirements of workplace pensions to ensure your business complies with these rules.

Workplace pensions

We have a range of potential solutions that will provide both you, and your employees, with tax efficient retirement benefits.

Some of the areas we can discuss with you are:

Group pension plans for your colleagues and employees

Salary sacrifice arrangements

Trustee based arrangements

Employee benefits

Part of our financial planning service includes reviewing your current employee benefit scheme. We can help your employees to take advantage of their benefits and improve or adjust what you offer where necessary.

Online total reward statements – helping your employees to understand and appreciate the cost of the benefits you provide.

Flexible benefits – allowing employees to create a benefits package that meets their own needs.

Salary sacrifice arrangements – facilitating employee access to tax efficient benefits whilst also reducing employers’ and employees National Insurance costs.

Private medical insurance – looking after your employees’ health and well-being.

Group Life, Income Protection and Critical Illness – allowing you to financially support your employees and their families at a particularly difficult time

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than invested.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

What our clients say

We will provide tailored suggestions from a range of product providers carefully selected by St. James’s Place.

Frequently asked questions when planning your business' finances

Financial planning is important for determining how a business aims to achieve the overall functioning of its business. Factors such as a marketing strategy, liabilities and assets, the measure of profit and loss and goals and objectives can be outlined to help the business succeed.

As a business owner you need to complete a Declaration of Compliance to confirm that you have met the necessary legal requirements for auto-enrolment. Auto-enrolment means that you need to provide your employees with a qualifying pension scheme to meet the requirements of auto-enrolment.

When writing a plan for your small business you should include the sales forecast, cash flow statement, expenses and income projections.

Careful research and planning can determine the success of your small business. You need to establish a monthly and annual budget for your business and stick to it. This is particularly important when starting your business.