Starting a business requires many unique skills: leadership, determination, ability to stay focused and patience. But above all, it takes time and a lot of work. To make sure your time and money are spent efficiently, planning becomes key for all entrepreneurs.
Where to begin
Before the official launch, you will have tested your idea, developed your business plan, found the best associate if desired and of course have proper financing in place. A full range of financial and accounting services as well as advice on legal and tax issues will be important to assure the success of your business.
Financial products and services for your business
As an owner of a business, a shareholder of a business or if you are self-employed, you should consider the following:
- Business succession planning
- Buy/sell agreements to allow for partner buyout
- Key stakeholder needs, including coverage in case of death, disability or critical illness
- Financing debt structure, venture capital
- Protecting business assets from creditors
- Tax-efficient investment strategies, savings and estate planning for business
- Individual Pension Plans
- Group RRSPs and group health benefits for employees to retain and attract them
A financial strategy will have to be developed and reviewed at different stages of your business growth. Your financial services advisor can help you put a financial plan in place to ensure your business thrives.