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What happens when business owners use their own money in the business?
Most small to medium business owners will tell you they went into business so they could provide for their family, in greater flexibility and free time, increased resources and a legacy.
Like most long term plans, building a self sustaining business takes time; time to mature, time to stabilise in the market and time to return the capital invested.
To achieve this, the majority of business owners use debt and overdraft facilities as an ongoing business tool.
And these types of tools can quickly work against you and your family if you're unprepared.
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For the majority of small business owners, the bulk of their wealth is often locked up in their business. The business generates their income to pay the rent, pay the mortgage or even the wealth to build the investment portfolio for retirement.
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Drew Browne
Sapience Founder & Director.
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