Finances dictate your future, and as such, the future of your business as well. Your finances need to be in order if they are going to provide for you in the future, and give your business what it needs to grow, thrive and develop. It’s not unusual for a business to plod along steadily, then run into some kind of financial trouble, and the director has no kind of backup.
You need to begin by understanding the figures. Does your business have a saleable value? Are you protected in the eventuality that you need to sell up? What will happen to your family if you have to withdraw from the business?
Once you know the figures, you can start putting plans in place. Consider your options for investments and ISAs to save and invest further in your business. Make sure you also have an exit strategy in mind should you need one.