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Business owners should also look at other areas of their lifestyle and personal finances to see if any improvements can be made . Mortgages , energy bills and insurance policies are all areas that should be checked and review at regular intervals .
With interest rates currently low , now is a good time to review mortgage rates and assess any fixed term deals to avoid any future rising interest rates .
Energy prices are also currently seeing an alltime high , so by being aware of the current plan and shopping around for the best deal , tangible savings could be achieved .
Life cover , critical illness and income protection cover are all options for individuals wishing to protect their lifestyle and loved ones if the worst were to happen . These products may seem to be costly , but they are all key considerations as part of any financial plan .
Writing and sticking to a financial plan is essential for every business to ensure that are bases are covered and there is sufficient cash flow available for peace of mind .
Working alongside financial planners , accountants and management consultants could prove to be beneficial for business owners and entrepreneurs wanting to achieve financial fitness and explore potential opportunities for personal and business growth in the years ahead .
If there is one thing every business owner should prioritise in 2022 , it is a robust financial plan . x
Jonathan Sidlin , Financial Planner and Managing Director of HSC Financial Advisers
www . intelligentcxo . com
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