Strategic Financial Planning for small business owners

Most small business owners have the desire to create financial certainty that extends beyond the success of their business. They want to build and protect their personal wealth. Many small business owners believe that the mere act of saving money and adding assets is enough to secure their financial future. It is not. Creating financial security and building your personal wealth requires a much more sophisticated strategy, which takes advantage of all of the opportunities afforded by the Australian financial and taxation systems. Bizally works with our partners Security National Financial Services to provide our small business clients with access to the very best Strategic Financial Planning.

What is Strategic Financial Planning?

Everyone’s circumstances are different. The right Strategic Financial Plan is the one that has been developed to reflect your specific goals and circumstances. It should take into consideration your financial resources, as well as your stage of life, experience with investments and your lifestyle. It should also consider how open or averse you are to risk.

What’s your ‘Investment Horizon’?

Your ‘Investment Horizon’ is the total length of time that you expect to hold a security or portfolio. Your investment horizon is used to determine your income needs and preferred risk exposure. Your ‘Investment Horizon’ helps to determine the appropriate security section for you. Our goal is to work with you to define your Investment Horizon and use this information to create your personal Strategic Financial Planning.

Your Strategic Financial Plan should reflect where you are today

Whether you are younger or just starting out in business, your borrowings will be higher, which reduces your ability to accumulate assets. As you become more established and pay down borrowings, your savings capacity increases. As you begin partial or full retirement you want to be in a position to take advantage of the assets accumulated over a lifetime of hard work. Your Strategic Financial Plan should reflect your current circumstances as well as future needs.

Why is Strategic Financial Planning a priority for Small Business owners?

‘Is property a good long-term consideration?’ ‘What about stocks?’ ‘How does my super enter into the equation?’ ‘What other options do I have?’ Today you have more questions than answers.

As the financial market and taxation system becomes more complex, the need to have professional advice and a clearly defined strategy to secure your financial future has never been greater. The benefit of working with Bizally and our Financial Planning Partners is that we can ensure your financial planning is properly aligned with your business, and personal tax minimisation strategies ensuring the best possible outcomes.

How does the Strategic Financial Planning process actually work?

To begin with, Strategic Financial Planning process. It requires an initial discussion on your current circumstances and your personal financial goals. This is then followed with information gathering and preparation of a tailored financial plan that meets with your specific needs.

Once our partners have prepared your Financial Plan, we then arrange a meeting, which is designed to answer any specific questions you may have. Once you are satisfied with the approach, we then begin to implement your Financial Planning and provide you with progress reports.

Regular reviews

Your circumstances change. So does the tax and investment landscape. Your financial plan should reflect these changes while remaining focused on your long-term goals. Our goal is to work with you to regularly review your Financial Plan and discuss strategies to enhance its effectiveness.

Strategic Financial Planning for small business owners