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Business Owners Neglect Own Finances

Business Owners Neglect Own Finances

Business owners are increasingly reliant on their business as a "job for life" which will pay for their retirement, and this is leading them to neglect planning for both their personal finances and the succession of their business. Research undertaken by Crimson Publishing on behalf of accountancy firm Kingston Smith LLP revealed that over half of entrepreneurs have no pension plan in place, and are instead relying on their business to be their pension.

Just 49% of entrepreneurs claim to review their personal finances regularly, and 29% admitted they had not done so in the last twelve months. On April 6th 2006, the government introduced Pensions A-Day, a new universal regime governing the taxation of pensions designed to simplify the system. Under the new rules....

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Business Type
Location

Reuters to be bought out by Thomson
16 May 2008
Reuters, the news and information group is to be bought out by Thomson, the Canadian financial data ...[more]
Anite may sell off public services division
14 May 2008
Anite, the UK-based IT solutions company, is currently undergoing a strategic review of its public s...[more]
Net-a-Porter.com could be put on the market
12 May 2008
Natalie Massenet, founder of the online fashion retail business, Net-a-Porter.com, is thought to hav...[more]
Dynmark could be put on the market
09 May 2008
Mobile bulk messaging group, Dynmark, is undergoing a review of its business which may lead to a sa...[more]
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