5 Financial Planning Tips Small & Medium Business Owners Need to Know

In this video, Scott Sturgeon, Senior Wealth Advisor at Oread Wealth Partners, addresses crucial financial planning aspects for business owners. He highlights the importance of estate planning, the separation of business and personal assets, the necessity of maintaining a cash buffer, tax planning, and exit strategies. Whether you're an SMB owner, an entrepreneur through acquisition, or planning to retire in the next few years, these key points will help you protect your business and personal finances, and ensure a smooth transition when you decide to exit your business.

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00:00 Introduction: Balancing Business and Personal Finances

00:50 - #1) Importance of Estate Planning

04:11- #2) Separating Business and Personal Assets

05:40 - #3) Building a Cash Buffer for Your Business

07:21 - #4) Understanding Tax Obligations and Planning

08:55 - #5) Planning Your Exit Strategy

10:20 - Conclusion: Integrating Personal and Business Financial Planning

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