Team photo
Centuria Financial Group


David P. McCabe,


Financial Planner


Nathaniel D. High, RICP®

Financial Planner


Nicholas J. Over, CFP®

Financial Planner


Sara E. Martin

Client Relations Manager


Jennifer A. McCabe

Client Relations Specialist


Centuria Financial Group

2333 Baltimore Blvd Suite B

Finksburg, MD 21048


Phone:  443-952-7232

March/April 2024

Create a Financial Strategy for Your Business

High view of cup of coffee and planning for oneself

When you own a small business, separating personal financial goals from business goals may be hard. The task can seem even more daunting for sole proprietors since all your business’s income is reported on your income tax return. Creating a separate financial strategy for your business offers several benefits and protections for your personal wealth.

Goals to Consider
You want your business to grow and thrive, so consider goals that can move your business in that direction. Developing a strategy for increasing sales and attracting more customers may help improve your bottom line. In addition, establishing a rate of growth you want your business to achieve offers a goal to strive toward.

Growth Opportunities
If one of your goals is to grow your business, your strategy might include finding sources of funding. The Small Business Administration (SBA) can be a helpful resource and a good source for low-interest loans. You might also investigate incubator opportunities, which provide space and promote business development, learning and cost savings as small businesses grow.

Be Budget Conscious
Manage your business’s budget by closely monitoring income, expenses, inventory, credit and cash on hand. Be diligent about maintaining a cash cushion for both your business and personal needs. Your personal investments should be in companies outside of your industry to offset any downturn your business might experience.

Retirement: An Overlapping Goal
Retirement from your business may seem like a personal goal, but you’ll still need a strategy for funding your lifestyle. Business owners shouldn’t count on the sale of their business to fund their retirement. Owners often overestimate the future value of their business, and it is impossible to predict what the economy will be like when you’re ready to retire. Instead, consider establishing a retirement plan, such as a solo 401(k) or SEP IRA, that’s designed for small business owners. Finally, create a succession plan that taps someone with the skills and interest to take over your business.

Add Insurance
A business owner policy (BOP) combines protections for all major property and liability risks in one policy. Your financial professional can provide guidance on all these strategies.



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Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Sara E. Martin and Jennifer McCabe are employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
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