Part 2: Aligning Business and Personal Finance Goals (2 of 2 Series)

Date and Time

Thursday Feb 2, 2023
9:00 AM - 12:00 PM EST

Location

New Castle County Chamber of Commerce
Emerging Enterprise Center
920 Justison Street
Wilmington, Delaware 19801

Fees/Admission

$25 for Members
$30 for Future Members

Description

As a business owner, your time is consumed with building a better, more profitable and hopefully more valuable business. Unfortunately, that often means postponing many important personal financial decisions to the future.

This is the second in a two-part course designed to help you understand a variety of business and personal financial decisions to incorporate into your long-term thinking. You will learn about steps you can take now to help provide a more financially secure future for yourself, your family, your business and your employees.

Course Outline

Understanding your finances This session will help you consider how your business impacts your personal finances and how your personal goals impact your business growth.		Business succession: Understanding your options Be prepared before you decide to sell your business — learn about different types of business succession strategies and some of the issues you may encounter.
Understanding your business To plan for the future of your business, you should have a sense of how your business is set up and the implications of the business structure.		Business continuation agreements Buy-sell agreements are a common approach to a business continuation strategy — understand the different types to help determine if you need one and which type could work for you.
Understanding your business To plan for the future of your business, you should have a sense of how your business is set up and the implications of the business structure.		Employee compensation and benefits Learn about broad-based forms of compensation and benefits packages designed for special groups of key employees, and how to determine what is the appropriate combination of benefits for your company.
Business valuation Learn about different business valuation methods, how they are typically used and compare three of the most common methodologies.		Estate planning basics Learn about estate planning strategies which can help business owners whose estate planning process could be complicated by the fact that their business is their largest asset.
Employer-sponsored retirement plans Delve deep into different types of retirement plans that you can provide to your employees.		Advanced estate planning issues Explore complex estate planning strategies that may help achieve lifetime and legacy goals for business owners who have substantial estates or unique assets.
Key employees: Compensation and employment agreements Develop an understanding of how to structure special benefits packages to compete for and retain key employees.		Income protection Learn about disability insurance strategies that can help business owners in the case of a disabling event for themselves, their partner, or a key employee.