Financial Planning for Business Owners

Can you rely on your business to deliver the retirement plan you have always dreamed of? Are you planning to sell your business to create this wealth or pass your business onto the next generation?

At Midland Financial Solutions we have significant experience helping business owners to achieve their financial objectives and giving them peace of mind for their future.

If you are a business owner, have you considered:

  • Is most of the value of your business lost when you walk away?
  • Could you take a ‘back seat’ but still retain ownership?
  • Do you know how to effectively and tax efficiently extract wealth from your business now?
  • Have you got a clear exit strategy if you do want to move on or retire?
  • Are you clear on the tax implications of selling your business?
  • Is most of the value of your business lost when you walk away?
  • Could you take a ‘back seat’ but still retain ownership?
  • Do you know how to effectively and tax efficiently extract wealth from your business now?
  • Have you got a clear exit strategy if you do want to move on or retire?
  • Are you clear on the tax implications of selling your business?

If you’d like help answering these questions and securing your financial future, get in touch.

Financial Protection planning

It’s likely that there are key individuals in your business, yourself included, who would be a significant loss to the business in the event of serious illness – or worse. The business may even fail without the input of these individuals. Whilst we often protect our income and family with life insurance and critical illness cover, the opportunity to protect our business, often our main income generator, is often overlooked.

From the personal and practical disruption a death causes, to the cost of recruiting and training a replacement to the very real issue that a share of the business could pass to the Director/shareholder’s family who may have no idea or inclination to run the business of which you are a fundamental part – and what if the income stream from the business is a vital part of your financial security? We have worked with firms of all sizes and in many sectors on solutions to this potential problem. Establishing a plan to deal with the unexpected is part of successfully running a business and is vital for its long term viability.

Employee benefits

Attracting and retaining the very best talent is essential to your business and part of this can include offering an excellent package to incentivise applicants, and to satisfy existing staff members.

Offering ‘group’ benefits like life assurance and health insurance can tailor-make your employee packages to suit your firm and your budget. Often being part of a larger ‘group’ plan will improve the costs for you as the employer and give you a much wider range of options that you can chose from to create your perfect package.