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Business Financial Planning in Connecticut

We know that thinking about the future can be daunting, but with the right planning and advice, it doesn’t have to be. If you’re a business owner, you may feel…

January 3, 2023

Written by Kevin

We know that thinking about the future can be daunting, but with the right planning and advice, it doesn’t have to be. If you’re a business owner, you may feel even more stressed due to your unique financial challenges. Perhaps you just started a business but you’re not sure how to set up a budget or plan for growth. Or maybe your company is doing well but you want to guarantee it stays that way, and you don’t know what steps to take. Either way, Nesso Wealth can help.

At Nesso Wealth, we offer financial planning services for businesses in Connecticut, designed to help you identify and pursue your long-term goals. Our experienced team will work with you to develop a personalized plan that suits your specific needs, and we’ll be there to offer advice and support every step of the way. From individual planning and business valuation to tax efficiency and succession planning, we can navigate together the financial challenges of running a business. Contact us today to learn more about what we can do for you.


Understand Our Financial Plans

Our financial plans are documents that contain indicators of a business’s financial situation, its long-term financial goals, and the strategies that will be put in place to pursue each of these goals. A good financial plan will answer questions such as:

  • How much is the business worth?
  • How much money does the business need to make to achieve its goals?
  • What are the sources of revenue?
  • How will the business be structured to minimize expenses and maximize profits?
  • What are the risks associated with the business, and how can they be mitigated?
  • What would happen if the business owner died or became incapacitated?
  • How will the sale of the business affect your retirement?

Of course, there’s no one-size-fits-all answer to any of these questions. The right financial plan for your business will be based on a number of factors, including your business size, its industry, the products or services it offers, and your personal goals and objectives. While you might be tempted to start planning independently, it’s always best to consult with our financial advisors who will help you avoid costly mistakes. We understand that every business is different, and we take the time to get to know you and your company before making recommendations.

Some Key Steps Of Our Business Financial Planning

Determining Cash Flow

In business financial planning, creating a financial plan without knowing where your money is headed and when is impossible. You must document transactions to determine the cash flow in and out of the business. Doing so makes it possible to determine how much you’ll need monthly to cater for necessities and the amount of money left for investing and saving. This way, we can also help you minimize expenses.

Considering Your Priorities

As we mentioned, having clearly defined goals is also essential. Some of these goals may include funding your children’s college education, starting a business, purchasing a larger home, leaving a legacy, or retiring on time. If your operations don’t align with your goals, it will be difficult to make progress. Our advisors can help you understand your priorities and make choices that will move you closer to your goals.

Reviewing Your Assets And Liabilities

Your assets are everything you own, including your savings, investments, property, and any businesses you have interests in. On the other hand, your liabilities are everything you owe, such as credit card debt, student loans, your mortgage, and any other business debts. To get an accurate picture of your financial health, we’ll need to know the value of your assets and the amount of your liabilities. This will give us your net worth, which is a valuable metric for measuring progress over time.

Services Included in Our Business Financial Planning

Business Valuation

A business valuation is an estimate of the value of a business, which can be used for a variety of purposes, such as selling the business, raising capital, or negotiating a partnership. There are many different methods of valuing a business, and the right approach will depend on the specific circumstances. Our advisors have experience with all major valuation methods and can help you choose the one that’s best for your situation.

Tax Efficiency

One of the main goals of financial planning is to minimize taxes. Our team can help you identify strategies to make your business more tax-efficient, such as using tax-advantaged investments or taking advantage of tax deductions. We’ll also work with you to ensure that you’re complying with all relevant tax laws and regulations. The last thing we want is for you to face an audit or a hefty penalty, having to pay back some of your hard-earned profits.

Succession Planning

Succession planning is a process that businesses use to plan for the transfer of ownership or management in the event of the owner’s retirement, death, or disability. It’s an important part of financial planning because it guarantees that the business can continue to operate smoothly even if the owner can no longer be involved. By working with our team, you can create a succession plan that follows your wishes. For example, you may want to sell the business to employees, family members, or outside investors.

Individual Planning

Your business is a crucial part of your individual financial picture, and our advisors take this into account when developing a financial plan for you. If your business succeeds, it can provide you with a significant source of income and wealth. However, if your business fails, it can put your personal finances at risk; that’s why we’ll take a comprehensive approach to financial planning, considering both your business and personal finances.

Our Work Doesn’t Stop Once We Deliver the Plan

You can’t just set your financial plan and forget about it. Your business and personal circumstances will change over time, so you must review your plan regularly and make adjustments as needed. At Nesso Wealth, we don’t just deliver a financial plan and disappear. We’ll work with you on an ongoing basis to monitor your progress and guarantee you’re still on track to pursue your goals. 

Reasons to Choose Nesso Wealth’s Financial Planning

As you look for a financial advisor, the main focus is on finding a professional with your best interests. Also, they should be able to communicate clearly while holding similar values to yours as a client. Some of the reasons to work with Nesso Wealth include the following:

Our Services Align With Your Needs

Before hiring a financial advisor, you need to understand what you’re getting. Some financial advisors are experts in selecting investments, whereas others specialize in retirement planning or life insurance assistance. However, at Nesso Wealth, we’re proud to provide a full suite of services that can be personalized to your business. We have many areas of expertise, so you can be confident that you’re in good hands regardless of the solution you need. 

Honesty and Integrity Are Important To Us

You deserve an advisor who will always give it to you straight. Furthermore, we believe in building relationships based on trust, so you can feel comfortable discussing your finances with us. Our advisors always act in your best interest and will never make recommendations that aren’t in line with your goals.

You’re In Control

As the business owner, you’re ultimately in control of your finances. Still, we know that it can be helpful to have someone to guide you through the process and offer professional advice. Our goal is to provide you with the resources you need to make informed decisions, but the final choice is always up to you.

We’re Here For The Long Haul

Our goal is to build relationships with our clients that last for years. We want to be there for you through all the ups and downs of running a business. When you work with Nesso Wealth, you always have a coach, accountability partner, and advocate in your corner.

We Have The Experience You Can Rely On

Our financial advisors accumulate decades of experience, which means we’ve had the privilege of helping many clients reach work toward their financial goals. During this time, we’ve learned what works and what doesn’t. We’ll use this experience to tailor our advice to your specific situation.

We Know How To Communicate

Financial planning can be confusing and overwhelming; that’s why we take the time to explain things in plain language. We want to simplify the complex topics so you can feel confident and in control. Our goal is always to provide clear and concise advice.

Get In Touch With A Team Of Financial Advisors In Connecticut

As you can see, Nesso Wealth in Connecticut is the perfect partner for business owners who are looking for financial advice and better wealth management. We have the experience and expertise to help you with all aspects of financial planning for your business. We understand the challenges and opportunities that come with being a business owner, and we’re here to navigate them with you. If you’re ready to take the next step in financial planning for your business, Nesso Wealth is the answer. Fill out our form to schedule a consultation.


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