The New Financial Year is Here… Will It Be Different To Last!

The buzz catch phrase in financial circles over the last few months is the term “Business Financial Planning”.

The truth is that the better advice businesses have been giving advice to their SME clients for quite some time now but now “the banks” have cottoned on and are now advertising and hiring for Business Financial Planning Advisers.

The benefit of working with a business savvy financial professional are numerous but mostly helping weld together your perception and reality as usually they are vastly different as we can see from the diagram:

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So to ensure you meet your financial goals, it’s a good idea to have a financial plan in place.

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So how do you know that you need advice? If you find yourself juggling competing financial considerations and not being able to focus on the real task at hand easily, and that is to build your business, I think you might need some professional help, maybe start by asking yourself these important questions now:

Do you have outside investments, or is all your money tied up in your business?

Do you have any contingency plans in place for your business if you were unable to work, or if you died?

Do you know what will happen to your business when you retire?

Are you sure you will have enough money for your retirement? Do your employees have the most tax effective salary arrangements?

If you have a financial plan, have you reviewed it recently?

If you are uncertain about any of these questions, you should consider contacting myself at Inspired

Money on 6222 7909 or seek input from an experienced financial adviser that you are comfortable with.

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