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.
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.
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.
Whether you have a service, business, distribution, business or manufacturing business, your problem remains the same. It’s all about cash flow.