Did you know that the number one reason why small family businesses fail is because of lack of planning? Without a proper succession plan, your family business may not last beyond your lifetime. In fact, only one third, 34%, of all small businesses have a robust, documented succession plan. Business owners often get caught up working in their business and forget to work on their business.
Learn how to tackle chronic and cyclical cash flow issues that are inhibiting your business growth. Find out how to maximize your assets and make the best financial decisions possible.
Learn how to smoothly transition your family business from one generation to the next in this insightful blog post. As the older generation approaches retirement, the younger generation must take on the mantle of leadership. However, there are numerous issues to consider, including compensation, funding, and legal planning. The post offers practical tips for maximizing the efficiency of your money and finding the funds to buy out the older generation while still growing the business. Find out how one family-owned manufacturing company found $240,000 of annual recurring revenue to fund their exit strategy and gain much-needed cash flow relief.
Learn how to secure your financial future as a business owner by diversifying your assets, reinvesting profits wisely, and planning for retirement. Discover why it’s important to have liquidity and control over your assets and how to avoid being dependent on the sale of your business for retirement.
When you’re making a capital investment in your business. Any way you look at it. You are going to pay a finance cost. And what I mean by that is, if you finance, you’re going to pay interest to the bank or the credit company for the privilege of using their money. But if you pay cash, you are giving up interest that you could have earned on your money. So the question becomes, how can you make that capital investment in your business and still maintain control of your cash?
As business owners, we all know how important it is to have access to cash when you really need it.
As a young business owner, it could be simple to fall into the trap of reinvesting all of your profits back into your business to help that business grow and expand and hopefully grow your income as you go.
Are you thinking about taking the leap and expanding your business but feel hesitant in doing so?
Cash and cash flow, the lifeblood to any small business or family. We all have experienced the feeling of being stuck and frustrated for not having access to cash when we really need it.
We’re currently over $31 trillion in debt and interest rates have risen and they’re going to continue to rise in the near future. In this blog post let’s talk more about the tricks that the government use that causes inflation and learn more tips on how you can protect your business from stealth tax.
