Northwestern Mutual

Business Start-Up

Learn what financial planning strategies to consider as you launch your business.

Starting Your Own Business

In the early days of starting your business, the hours can be long and the pressures high. You are generally on your own—with few or no employees. You probably have one product or service under development and a few assets in place. There is a critical need for financing capital, but without a proven cash flow record, funding may be hard to come by.

When you own a business increasing its value often hinges on your ability to effectively recruit, reward, retain

At this stage in your business’s life cycle, consider the following financial planning strategies:

  • Risk Management: Protect yourself and your ability to do business in the event of your own disability or the loss of a key employee.
  • Employee Benefits: Consider offering basic benefits to help attract and retain valuable employees.
  • Business Succession: Although you're likely focused on short-term goals at this stage of your business, some strategies for business succession can take years to fund and implement. So, the sooner you start thinking about how you want to transition your business, the sooner you can start putting in place the plan that will get you there.
  • Personal Planning: Take steps to protect yourself, your family, your assets, and create or continue to refine estate and retirement savings plans.

More on This Topic

Click the links below for more information.

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  • Forward Thinking

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