Home' The Channel Magazine : November-December 2011 Contents National Newsagent November/December 2011
Isn’t great to be in business for yourself
with your family, no bosses, no time clock, no
targets and, of course, no stress?
Yes, I know what you’re thinking: “You can’t be serious! I have
never worked so hard in all my life. The toughest boss I have ever
had is me! No time clock! How is it I always get out of bed before
the sun? If I do not achieve my own self imposed targets we are
below the bread line, something will have to go!”
Have you ever wondered if you are doing it right,
this “business” thing? Is there a better way to do
it? “Do I need help...but, hang on, how much will
that cost?” You might think to yourself that it all
seems too hard...
The truth of the matter is that many small business owners
are in the same boat as you, you are not alone. The ones that
make it all look too easy get the help. That is their secret, and
that is why it looks easy for them.
During the short time Finance For Life has been associated
with the Australian Newsagents’ Federation, we have seen
many people that do not really have relationships with their
bank or their accountant. We see people who are paying far too
much in interest on their loans with their current banks and
their accountants do not suggest where or if the newsagent can
borrow any more money. Things can look grim!
There is a way, however: you have to play by the rules to get
back on track and show your real worth.
Do you know the tax threshold for the different income
brackets? Do you know how much you can put into
superannuation tax-free for your age? Have you asked yourself
how much money will I need to retire on? Do I have my loans
structured correctly? These are all questions many of us carry on
in business and never ask ourselves. Finance For Life is willing
to help you find the answers in a simple process!
We will look at your financial accounts and tax returns and
advise you what changes need to be implemented to bring you
back on course. It might be a simple thing with a great result!
WE CAN ASSIST
We will look at all your loans. These include business, home
loans, credit cards, creditors, tax debts and more and help sort out
the confusion. Finance For Life will assist you with the structure of
all these outstanding monies and get it right for you for now.
Finance For Life has saved small business thousands of
dollars per annum by just getting the simple things right. Just
think of us as your smart financial partner, someone you can talk
to for all your financial needs.
SUCCESSION AND RETIREMENT
It is also important to consider the end game. Have you
considered at which station you are getting off the work train?
For some people, the train will simply stop and it will be the end
of the line for you. This will not be the station you intended to
get off at. We are talking here about succession, the transition
from work life to retirement life. In many cases, business owners
have heard their retirement plan is the sale of their business or
businesses. This assumes that things will continue swimmingly
and that the value of their business will remain steady. There
are many market forces that will influence the final value of your
business at the time you decide to sell. This may not give you the
price that you currently imagine.
The time that you spend in your business gives you the cash
flow to set aside funds for retirement to protect yourself against
the unforeseen future.
At Finance For Life, we can simplify the process towards moving
into the retirement period and helping you get off the work train at
the station that you would love to live for many years to come.
We urge you to be in the process of planning for your own
future now. It does not matter how many years there is to go in
your current plan. The sooner you start the process of planning
and structuring your current commitments / liabilities, the better
the end game should be.
*For more information, please
call 1300 88 76 99 or visit
THE TRIALS AND
RUNNING YOUR OWN
By Martin Rambow, Director, Finance For Life*
• Are your current loan facilities at a competitive interest rate?
• Is your business structured correctly?
• Are your loan facilities structured correctly?
• Do you minimize your tax effectively with your current business structure?
• Have you created a succession plan for your business?
• Do you know if you will have enough in your superannuation to retire on?
These questions seem harmless enough for small business owners and in most cases are not addressed at all
during the time in your business when planning financially should be taking place. Many of us wait to think
about finances, but a plan needs to be crafted as early as possible to suit you.
What if you had a financial associate that made it all easy? You provide some information, they ask a few
questions then go away again and construct a plan to suit you especially.
Finance For Life is truly “your smart financial partner”. Yes, and they do mean for LIFE!
That is through business and retirement, “thick & thin”.
Throw us your challenge and test us out you might find you might find the money might turn about.
Finance For Life Has Some Important
Questions for Small Business Owners:
Free financial consultation for members
E email@example.com Fx 02 8876 9700 W www.financeforlife.com.au
Get your FREE initial financial consultaion by contacting us on:
Freecall 1300 889 511 or 1300 887 699
YOUR SMART FINANCIAL PARTNER
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