Friday, May 26th

Last update:04:58:29 PM GMT

You are here: Business Finance Prevention Planning
Small business owners need more than a great idea and a ready market. New businesses often flounder because of the nuts and bolts of starting a new company, rather than because of a failure to deliver a good product. A little advance planning can save the new entrepreneur endless headaches later.

“Some business owners are so focused on the idea or the product that they don't always invest a lot of time to build a plan on how to bring it to life,” said Nathan Pugliese, a Registered Principal and Certified Financial Planner practitioner for Ameriprise. “And I think part of that plan really needs to involve more than one person.”

Pugliese advises business owners to involve their legal and financial advisers in their business plans. At a minimum, entrepreneurs should consult a CPA and possibly an attorney as well. These experts can provide guidance in areas such as choosing the right business entity – be it a corporation, a sole proprietorship, an LLC or another type. And bringing in their advisers early in the planning process enables business owners to head off legal hassles before they occur.

“For small business owners in particular, I think it starts with 'What's your approach? Are you in business not to lose? Or are you going into business planning on how you're going to win?' So I think how people approach their small business is an opportunity,” Pugliese said. “And seeking out the information about what's available to you as a business owner as opposed to  having someone doing it for you. It's a very different game.”

For more information, please visit: www.ameripriseadvisors.com

We recommend:
Expect the Unexpected
The need for different strategies behind managing your wealth and investments. The strategies behind
Growing Old Is Inevitable, Growing Up Is Optional
Wisdom about retirement planning is acquired through the help of others. Garnering the wisdom and kn
Millennial Generation Tech- Savvy and Smart
But Managing Finances isn't a Game. After witnessing multiple economic tsunami’s in Corporate Amer
The Changing Financial Landscape
Stretching retirement funds through proactive planning. While most investors factor inflation into t