UK wide study based on: 500+ UK business owners

£1m - £50 m turnover10 – 249 employeesAt least 2 years old

Across all UK regionsAcross major sectors

About the study.

What are business owners worth?

Average earnings are £95k a year – less than half the average salary of an AIM-listed CEO.

Average investments £121k in stocks and shares

Average property debt £233k (combined residential and commercial)

UK business owners pay themselves relatively modestly…

If this is you, ask yourself…

Do you know if you’re paying

yourself in the most tax efficient way? Do you view

your business as your

pension fund?

`What provisions do youhave for excess cash in

the business?

What other investments do

you have outside of the business?

Instead business owners are keeping their wealth in their business.

42% say their company couldn’t cope without them for more than a week.50% have a main supplier they couldn’t survive without.43% are reliant on a major customer.50% have a key member of staff they couldn’t survive without.

Owners see their company as their main source of future wealth and financial security. Yet, they are exposing their businesses to major risks.

Can you afford to gamble with your future?

How would your business fare without you?

Do you have a diverse management team in place to delegate to?

How long would your business survive if your key supplier

went under?

What are you doing to stop over-reliance on your key customer/s?

Do you have a business plan in place to grow your business?

If this is you, ask yourself…

Business owners have too much over reliance in their business…

The great retirement swindle

Despite all the risks owners are taking in their business, many owners plan to retire early.

40% plan to retire before they

are 65.32% have no pension fund.

Average total pension fund is just £109,594.

Relying on your business to provide for your retirement.Not having effective alternative measures in place to provide for retirement.Not undertaking effective estate planning in place.

Are you falling into the trap of…

SummaryBusiness owners are relying solely on their company for their financial future

Many business owners are running their companies with significant risks

Many are investing back in their companies and drawing modest earnings

Many have their sights set on early retirement

Securing their future and protecting their wealth often falls off the radar

Business owners need to protect their wealth & minimise the risks in their businesses

What should you do next?

Map out yourwealth Consider

your risks

Minimise business dependencies

Balance your business risk and financial

security

Stress test all areas

Plan to mitigate high

risk areas

Get advice

Haines Watts is a Top 15 firm of chartered accountants.Over 80 years of experience in advising business owners.

Offering a broad range of accountancy and business advisory services.

More than 60 offices across the UK.More than 35,000 business owner clients.

A little bit about Haines Watts

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