Financial Planning for Business Owners

Planning for Business Owners | Northeast Wealth Management

When you are full of ideas for starting a new business, all you can see is what’s going to happen tomorrow. The thought of having their vision turned to reality often blinds new entrepreneurs to that all-important question: Does it all makes sense financially? While passion is key to turning vision into a functional business, prudent financial planning is critical to ensure that your business continues to survive and thrive!

Why Financial Planning Is Important for Business Owners

Just as even the savviest of pilots can’t always fly blind all the time, so too is the case with business owners. Meticulous financial planning, for the short-term, in the intermediate period, and for the long-term horizon, is vital if a business is to succeed.

Without sound financial planning, even the best business ideas won’t take flight. Business financial planning is the lifeblood for any venture to succeed, expand and grow in the long run.

What We Can Do for You

Here’s how our business financial planning solutions can help you:

  • Start-up financial planning: As you start up your new venture, you’ll need to finance its ongoing operations. We can help uncover creative capital financing opportunities for you.

  • Business plans: To ensure the ongoing viability of your business, you’ll need help putting together a sound business plan – for the short, intermediate, and long-term. We can help create that plan for 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: Most jurisdictions offer a number of tax incentives to business owners, so that they might create, expand, and continue operating in those jurisdictions. Unfortunately, many business owners are either unfamiliar of the tax-friendly nature of such incentives; or, they underutilize them to the detriment of their business. Leave it to us to help you understand such incentives so you can apply them to minimize your business taxes.

  • Asset acquisition: Whether you choose to own an asset outright for your business, or ensure its use through other means, will depend on the financing options available to you. We can help you to decide whether to buy or lease, depending on what is the most sensible for your goals.

  • 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 debt? These are everyday decisions that we help business owners make.

  • Business expansion and diversification: When it comes to expanding and diversifying your business, you’ll find us right beside you when evaluating financial proposals and financing options to fund those initiatives.

  • Employee retention: No business is ever successful without satisfied employees. We’ll work with you to help offer attractive remuneration, compensation and benefits packages to your employees, that will motivate them to consider making a long-term career with you and your company.

  • Succession planning: What happens if something unfortunate happens to you? What if you wanted to step down, or take a less active role in the business? Is there someone groomed and primed to assume the leadership role for a smooth succession?

  • Retirement, Estate, and Legacy planning: And when it’s time for you to call it quits, we’ll be right there to ensure you are able to enjoy the fruits of your hard work. Through careful planning, we’ll not only make sure you enjoy a comfortable retirement, but that your legacy passes seamlessly to your next generation of successors to realize the vision you imagined.

Contact us today to learn more about financial planning as a business owner.

If you have any questions, please do not hesitate to reach out to us at 781-356-2969 or click on the following link to schedule a meeting with us: