It’s surprising how little time most business owners spend on planning every week, yet it’s vital for continuous and productive change in an organisation.
Good business planning ensures you know where you are going, what you have to do to get there and how you are going to do it. It can also highlight problems before they grow to a size that could threaten the stability of your business.
You’ll find that 1st Financial Foundations Independent Financial Advisers is a comprehensive source of information and advice on issues like capital financing, business and tax planning, exit strategies, commercial insurance, and corporate pensions and investments. From our own personal experience, we can help you devise strategies to keep your business running smoothly, even if it hits troubled waters.
Planning is something that’s often pushed into the background in a busy company, yet it’s a lack of planning that causes the most problems – especially when it comes to your long-term wealth-building plans!
For example, do you know how your business could survive if a key member of staff went on long-term sick leave, or, worse, is tempted to a competitor offering better benefits?
Do you have the finances in place to cope with a higher tax liability if the Government announced unexpected increases or blocked legitimate business tax avoidance schemes that you rely on?
It’s worth taking the time to plan for the short to medium term because it can reveal a lot of opportunities you may have missed. It can also clarify problems or weaknesses that you need to sort out.
If you find it difficult to get your head round all the different issues involved, why not come and chat to us about it?
We've helped numerous companies improve their performance by highlighting where changes are needed in their:
In addition, we’re experienced at developing risk management strategies that help you prepare for unexpected events. We can recommend the most appropriate insurance to protect you and your staff, and to keep the business running smoothly.
These include:
Do you want your business to be more profitable, efficient and productive? Of course you do. But have you actually planned how you’re going to do it?
If you never got around to writing that business plan, now is a great time to tackle it. It’s all too easy to get caught up in the day-to-day running of the business and forget to take a step back to check where the business is heading – and whether it’s earning its keep.
For example, where will you personally be in five years' time? Still working in the business every day? Or will you bring in a manager so you don’t have to? Perhaps you’ll have sold the business by then. Even though 45% of business owners want to retire before they’re 50, only 7% have taken ANY steps to plan how their business will provide the means for them to retire.
If you still need to sort something out, 1st Financial Foundations can help. We’ll outline the main options available to you before devising an exit strategy that best suits your objectives and circumstances.
This could include: