Many business owners want to diversify how they earn so that their business is not their sole source of income. In discussing this with financial advisors from approvedfp.com.au, it is almost certain that one of the ways which will be discussed is investments. Investment planning not only provides income, but is an excellent means of ensuring your financial future, so when you retire, your finances are not a concern.
That all sounds great, but one of the barriers business owners often come up against is that they have insufficient cash assets to make the investments. That is not to say their net worth is an issue, but instead, that much of their capital may be spoken for such as what they have invested in their business, their home and so on. This can leave them feeling frustrated knowing that their financial advisor’s advice to invest is sound, but they cannot act upon it due to limited cash funds.
If that sounds like a scenario you are in or could be, then there are solutions. Below were have outlined seven ways in which business owners can generate the liquid funds they need to create an investment portfolio. Not every one of these will suit your particular circumstances but if at least one of them do then you should be able to generate the cash you require.