Resources for younger businesses

Running a young business comes with its own set of challenges and opportunities. With the right support and guidance, you can lay the groundwork for growth and long-term success. Will Millett, a Financial Planner with Grayson Lewis and a valued partner of Finance for Forces, offers expert advice to help younger businesses thrive in their early stages and beyond.

Below are some of the key areas Will highlights to support growing businesses:

1. Protection

Protecting your business from unforeseen risks is crucial. From securing essential insurance to safeguarding against financial setbacks, Will provides insights into the protection measures that every business should consider.

2. Payroll and staff protection/benefits

Attracting and retaining the right people is essential to the success of your business. Will offers advice on structuring payroll and creating employee benefits packages that protect and support your staff while making your business a desirable place to work.

3. Attracting the best staff for your business

To build a strong team, offering more than just a salary is key. Will shares strategies for creating competitive staff benefits, fostering a positive workplace culture, and positioning your business as an employer of choice.

4. Tax savings for the business

Tax efficiency is a powerful tool for younger businesses looking to maximise their resources. Will provides guidance on identifying tax-saving opportunities and implementing structures that boost profitability while maintaining compliance.

5. Business valuations and building towards a potential sale

Even in the early stages, it’s important to think about the future. Will advises on valuing your business and establishing a plan to build towards a potential sale, ensuring you’re prepared for opportunities down the line.