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1021223-00006-00
Avraham "AY" Rappaport, CLTC
President, Financial Professional
Yaniv "Jay" Natanov
President, Financial Planner
Eli Rappaport
Vice President, Financial Planner
Shlomo Rosenstein
Financial Professional
Ozzie Marizan
Financial Planner
Joseph Greer
Employee Benefits Administrator
Dylan Pinsky
Client Relations Manager
Premier Financial
6395 Dobbin Road, Suite 102
Columbia, MD 21045
Phone: 240-309-6001
Email: dylan.pinsky@prudential.com
Website: premierfinancial1.com
March/April 2023
Investing Considerations for Small Business Owners
As a small business owner, you’re faced with the task of overseeing both your business and your personal goals. While it’s tempting to put more effort into one than the other, you should be equally focused on both.
Protect Your Business
What if an unexpected event forced your business to temporarily close? A Disaster Recovery Plan describes the steps and resources you would need to keep your business operating. Business interruption insurance should be a cornerstone of that plan. It typically covers operating expenses, such as lost revenue, mortgage or lease payments, taxes, payroll, relocation to a temporary space, and similar costs. It can help you keep your business up and running while the problem is addressed.Save for Emergencies
Saving money in an emergency fund is important for your personal finances. Your goal should be to save at least three months’ worth of living expenses in an account that you can easily access. If you’re faced with an unanticipated expense, you won’t have to charge the amount to a credit card or sell investments to cover costs. Creating an emergency fund for your business is equally important. A sudden loss of revenue or an unexpected downturn in the economy can be devastating. Having money in an account that is easily accessible can help keep your business afloat during hard times.Invest for Growth
Just as you create personal wealth by saving money in your investment accounts, you can create business wealth by investing in your business. Spending money on product development can increase revenue and profits. Using financial resources to train employees and develop their skills can also improve your bottom line. And offering an attractive compensation and benefits package can go a long way in bringing talented people into your company.Seek Professional Help
An accountant to keep your books and prepare your taxes can absorb much of the financial burden of running a business. Similarly, a financial professional can help you save for retirement, both personally and as a business owner, and is a valuable resource for learning about available retirement plan options.1054785-00002-00
Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial 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. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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