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.
Click here to book a no-obligation business financial review meeting by telephone or zoom
Benefits of taking financial advice for your business
Financial planning is the key to business success. At Four Wealth Management, our business financial planning service will give you more time to focus on running your business and give you peace of mind knowing that your business finances are in order.
A financial plan to grow your business
A financial plan will help your business to grow while navigating potential cash-flow issues that many start-up companies face. Effective financial planning will allow you to analyse the amount you can spend each month. Having a plan will also help you to allocate resources appropriately and determine how much you should spend in areas such as product development and marketing to accelerate your business growth.
The financial plan should be reviewed regularly against the business performance to check the business is on track. Reviewing current performance will allow you to identify strategies for growth.
Preparing to sell your small business
If you are preparing to sell your business, you should give yourself a year or two to prepare allowing you time to improve your financial records, business structure and operations while aiming to increase your customer base to make the business more profitable and attractive to buyers.
After selling your business, there are likely to be tax implications especially if you make a large profit. At Four Wealth Management, we can work with you to determine the most tax-efficient way to invest the profits to help you achieve your personal financial goals quicker.
How to protect your business
When a business partner dies, their share of the business is included in their estate and distributed according to their Will. A life insurance policy could provide the business with funds to buy back this share from the estate for business continuity.
As a business owner, you may also want to consider an income protection policy. Income protection is designed to replace a portion of your salary should you be unable to work due to illness or injury. This payment can continue until retirement. The premiums are often affordable, yet very few individuals considered taking out an income protection policy.
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
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.
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.
What our clients say
Book a business financial planning review
If you have any queries or would like to arrange a zoom or telephone meeting with an adviser for a no obligation review of your business finances, simply book a call back using the form below. Alternatively, you can call us on 0117 973 0500.
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.
