Business Planning focuses on issues specific to business owners and shareholders. For many business owners, their business is their livelihood. The financial success of said business has an immediate impact on the economic security of their families. With proper planning, your business can provide financial value in retirement and to your family upon your death. Business planning coordinates the management of your business throughout its life cycle with risk management, distributions to owners, and succession planning.

Starting and running a business is risky. Several factors determine how safe your assets are from said risk. Risk Management identifies probable risks ahead of time and provides options for mitigation.

The size and structure of your business significantly influence your compensation systems/Distributions to Owners. Large businesses tend to provide owners with sophisticated compensation formulas while small businesses tend to adopt more straightforward compensation approaches. Compensation reaches beyond wages and can include insurance benefits, retirement plans, performance initiatives, and other tax-advantaged nonqualified plans.

The transition of a business from an existing owner to a new owner is often referred to as Succession Planning. Key factors vary with business type and industry, but there are some factors common to all business transitions. These factors include the creation of a sellable business and the formulation of specific transition mechanics at the time of sale.

This material has been provided for general informational purposes only. Investors should consult with a business planning professional regarding their individual situation.

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