7 Ways Your Small Business May Benefit from a Financial Advisor

“A financial advisor can help you discover ways to use your business to grow your wealth, both in and out of the business,” said Cady North, Founder and CEO of North Financial Advisors.

Let’s take a look at seven ways a financial advisor can help you out:

1. Financial Planning

As a small business owner or self-employed person, you don’t have to deal with the big company problems or corporate bureaucracy, which is very appealing. A financial advisor can help get you started with financial planning for your business, keep you on track, remind you of the importance, and always have your financial future as a priority. 

2. Cash Flow Management

Just like for an individual, money your business makes doesn’t have to stop making you money once you get paid. By investing the money your business earns strategically, you can continue to earn interest. 

3. Insurance Planning

We could do all of the planning in the world, create a real work of art on a spreadsheet, and then something happens that causes you to not be able to work. Then you have to use all of your savings to keep yourself afloat until you can earn an income again. So the plan becomes completely irrelevant.

4. Retaining Employee

Job markets are very competitive. A lot of times it comes down to the specific work environment and perks of working for an employer that attracts and retains employees. Everyone needs to have a good financial plan, and that includes investments and insurance. 

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