Financial Planning for Business Owners
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 reality comes to fruition, and 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 of business ideas will soon falter and perish. Business financial planning is the lifeblood for any venture to succeed, expand and flourish in the long run.
What JL Parrish Can Do For You
Here’s how my 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. I 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. I 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 JL Parrish Investments 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. I can help you make buy versus rent, versus lease decisions that are right for you.
- Debt management: Is it best to borrow against business assets? Or should consider refinancing? Or would it make sense to dispose-off some assets to finance debt? These are every-day decisions that I 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. I’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 untoward 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 mantle of leadership and succession?
- Retirement, Estate and Legacy planning: And when it’s time for you to call it quits, JL Parrish Investments will be right there to ensure you are able to enjoy the fruits of your hard work. Through careful planning, I’ll not only make sure you enjoy a comfortable retirement, but that your legacy passes seamlessly to your next generation of successors.