Starting a new business takes a lot of consideration and need a intense planning. This also involves detailed financial planning. A well designed financial plan ensures that your business survives in difficult situation and gives you a shield of protection in difficult times.

Money does matter

While you start preparing for your business, you first need to create a monthly budget so you can...

• Identify your Income sources
• Are able to allocate income and expenses
• Are able to save on expenses wherever you can
• Find how much you can strive without income
• Identify if you have enough income to meet your basic financial needs

Emergency Funds Setting up...

Emergency fund helps you with money to cover unexpected personal expenses, including extended absences from work or healthcare. It also gives you a protection against unexpected financial issues.

Transition preparing...

• Inform your current employer about your decision
• Use the health and dental coverage before you lose them
• Make necessary changes (if any) to your family finances
• Enhance and redesign your savings strategy
• Update your current estate plan with your changes to new situation

Expert Tips

Talk to us as your financial advisor about:

• Buying a life insurance to make sure that your loves ones are protected when you are not there to support them,
• Considering other coverage to protect your business in case you get sick or become disabled
• Reviewing existing insurance coverage (if any) and deciding if it requires modifications or replacements
• Protecting your assets from creditors.
• Reviewing designed beneficiaries

Contact Lawyer about...

• Deciding best form of your business that suits your situation (sole proprietorship, general partnership, limited company, incorporated company)
• Having a buy-sell agreement to make it easier to resolve conflicts between partners. This is also helpful to setlle matters in event of death, bankruptcy or even sickness.
• Talk to an a tax specialist or an accountant about...
• For tax implications of the legal form when you choose your business type and understand your obligations and responsibilities as well.

Start your estate planning

Estate planning is the process of organizing and anticipating for the disposal of an estate during your life.

A typical estate planning involves;

• Planning and settling final taxation issues,
• Creating a Will and,
• Financial planning of your estate and improve your savings strategy.