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Ep 2: How to ensure your business helps you achieve your financial and lifestyle goals.
Season 1 Episode 2
There are many non-financial reasons that encourage people to start their own business. But it’s important that you are fairly rewarded (financially) for your time, effort and risk. It might be your goal to build your businesses value and sell it one day. But as a plan B, you must direct a proportion of your annual profit towards building a personal nest egg. Stuart and Mena show you how to do this including:
- The three common tax-effective ownership structures to use to build wealth
- How to improve your business’s cash flow
- How your accountant can help maximise your borrowing capacity so that you can borrow to invest
- Why ignoring super is foolish (and why you don’t need a SMSF)
- Investing in commercial property can be very rewarding, particularly if you operate your business from it.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Published on 4 years, 9 months ago