Business Owner Videos
Short informative videos aimed at business owners.
Financial Planning for Business Owners
This video explains how directors and owners of businesses have significant financial planning advantages as a result of their positions. It links the financial goals of the business and those of the individual outlining how they can be made to interact, in particular by using the tax system which produces favourable opportunities. Most people think of financial planning as something relevant just to individuals, but as the video describes, there are many angles here for businesses and key people in the business.
Business Protection
For those of you in business, running your own company or as a sole trader or partnership, there are threats and risks you will need to manage to protect your business. And in nearly every case there is a protection solution, a step or steps you can take to cover the risk.
Things can get complicated for a business if a key player – such as a shareholder, director, or senior employee becomes ill and has to step out of the business, or death occurs. In these instances, research shows that many businesses will suffer significant losses or in some cases will have to close.
These are tangible risks and ones that all businesses have to weigh up.
This is a video that explains how protection can be arranged to reduce the risks or even take them off the table entirely.
Tax Planning for Directors
The options for directors, looking to manage their personal finances for the best outcomes, are considerable. This is because directors are often in a position to control their own pay. This opens up many possibilities and, in particular, favorable tax angles.
The list of potential benefits is a long one, but not all are well-known to directors.
There is also the question of balancing the company needs versus the personal ones, and how best to maximize options for both parties.
The video runs through all of this and more and presents a compelling explanation of how directors should approach this.
Business Succession Planning
If you have your own business, then sooner or later you will need to consider how you are going to leave the business.
You may wish to retire, sell, or pass onto family members or some form of a combination of these or other reasons.
Whatever your wishes, planning to exit, even many years in advance, requires skill and expertise. That’s because it is easy to get caught out or to end up with a poor deal. There is also the question of taxation to consider.
This is a video that explores the subject of business succession in more detail. It covers why you need to think about this even if you have no short-term plan to sell, or are looking to sell a long way in the future.
Part of the reason is that making your business as valuable as it can be, to potential buyers, is also likely to make it the most profitable version it can be whilst you are in the main seat. The classic win/win.
Employee Benefits
Employee Benefits describes the range of additional remuneration possibilities an employer can offer an employee. Things such as pensions, life assurance, medical insurance, savings, and other non-cash benefits.
These extra benefits over and above the salary can make a big difference to employees. They can influence retention and recruitment and, in many cases, they can offer a more tax-efficient way to reward employees as opposed to their basic pay.
What works for one employer, might not for another, so understanding the range of options and how to create a great package is important.
This applies to an employer of any size, as even with just one or two employees the benefits package offered by a business can be crucial.
This is a video that explains the options in greater detail and provides employers with a way to approach this and consider how they can use extra benefits to their advantage and in the best interests of their employees.