"The secret of change is to focus all of your energy not on fighting the old, but building the new."

BUSINESSES

Cappuccino and latop
Two people shaking hands over a laptop
Business people smiling
Business people shaking hands

Statistics published by the American Express Open Forum show that:

  • 30% of small business owners haven’t calculated how much money they will need in retirement.

  • Less than 25% have a formal plan for transferring their business to a new owner when approaching retirement; and,

 

  • Only 40% of small business owners have consulted with a financial advisor

 

Statistics reveal:

  • Business owners are busy running their business , leaving little time to look beyond immediate priorities

 

  • Whereas business owners might focus on one component of his/her financial concerns, like retirement savings, they often do not spend the time developing a comprehensive financial strategy; the result being that,

  • Other elements that the business owner should consider; i.e. employee benefits, key man insurance, exit strategies, buy/sell agreements are neglected.

If you are a small to mid-size business owner, Foresight Solutions will help you look at your business strategically, helping you to synchronize your personal and professional goals.

 

Our Process for Businesses:

 

Step 1: Establish and connect your business and personal objectives through the financial planning process

 

Step 2: Identify your business and personal financial resources for current and future income needs

 

Step 3: Identify key areas of building and preserving your company’s value

 

Step 4: Identify the options of exiting your business whether it is selling to an outside party or transferring ownership internally.

 

STEP 5: Connecting your resources and goals in establishing a plan and timeline of exiting your business.

 

STEP 6: Ensure business continuity while increasing the value of your business to achieve your retirement income needs.