Small Business Planning

Operating a small business requires constant planning and evaluation to maintain a profitable position. Being in the investment business allows us access to data on successful businesses in a number of fields. We can help you do trend analysis and determine whether your business is continuing to grow with the economy or if you need to be restructuring your business plan. We can also assist you in determining whether the type of entity through which you are operating your business is still the most appropriate, or if it is time to look at other modes such as limited liability companies or a limited partnership or a corporation.

If you are operating a small business, you probably should consider establishing a pension plan for yourself and your employees. It may be as simple as a SIMPLE plan or as complicated as a defined benefit plan. It all depends on your needs and your philosophy. We can help guide you through the minefield of pension planning. We can help you evaluate the various approaches and find the one that fits your specific requirements. It may involve contributions from your employees, such as a 401(k) plan, with some, or no, matching contribution from the company. It might involve a defined contribution or a contribution plan dependent on the profitability of your company. Whichever type is right for your company, the time for action is now. Preparing for retirement takes time to set aside enough money to meet your needs after you are through working. The sooner you start, the smaller the annual amount you must contribute in order to achieve your goals.