Keep the business resilient
Set aside operating cash, taxes, debt payments and contingency reserves before committing to growth or investing surplus funds. Protect the capital the business needs in the near term.
Financial Planning for Business Owners · Ottawa
Build personal financial security alongside your business.
Your company supports your income today. A coordinated plan connects its cash flow, investments and risks with your family’s needs and the life you want after work.
Decide what each dollar needs to do
Separate the reserves. Connect the goals.
Fund your life outside work
Plan household income, emergency savings and investments outside the company. Consider the risk already concentrated in your business when choosing how much investment risk to take.
Prepare for your eventual exit
Estimate retirement spending and income from pensions, personal savings and corporate assets. Test a delayed sale or a lower sale price so the plan does not depend entirely on one transaction.
Protect the plan
What changes if you cannot keep working?
Assess household income and business obligations separately. Life, disability, critical illness and overhead cover serve different needs; each policy should have a defined financial purpose.
Coordinate the business protection
Review key-person loss, corporate-owned life insurance and buy-sell funding alongside debt, existing reserves and ownership agreements. Check that one benefit is not being relied on for several obligations it cannot fully fund.
Connect succession with the estate plan
Align wills, powers of attorney, beneficiaries and shareholder agreements. Consider taxes and liquidity at death, family members inside and outside the business, and charitable wishes. A qualified lawyer must prepare or review the legal documents.
Set an order for the next decisions
Agree which actions come first, who is responsible and what can be funded now. Review the plan after incorporation, changing income or ownership, growing corporate savings, family changes or a revised retirement date.
Questions before you decide
Look closely at the details.
Do I need financial planning if I already have an accountant?
Yes, the roles are different. Your accountant generally focuses on accounting, reporting and tax matters. Financial planning connects your cash flow, investments, insurance, retirement and estate objectives. The professionals should coordinate where their work overlaps.
Should I pay myself a salary or dividends?
The appropriate approach depends on your corporate and personal circumstances. Salary and dividends can affect taxes, CPP, RRSP room, insurance eligibility and cash flow differently. Your accountant should determine the tax treatment while your financial plan considers the broader effect.
Should I invest personally or through my corporation?
That depends on when the money will be needed, available registered-account room, corporate tax considerations, creditor exposure and your personal goals. The decision should be evaluated with your accountant and investment professional.
Will Centerpointe prepare my tax returns or legal agreements?
No, unless a specifically identified professional is separately qualified and engaged to provide that service. Centerpointe coordinates financial and insurance planning with your accountant and lawyer but does not replace them.
Review with Centerpointe
Bring the business and personal picture together.
We’ll review compensation, reserves, debt, investments and insurance against your goals, then coordinate with your accountant and lawyer. The review works best with accurate information about both the company and your household.
Financial Planning for Ottawa Business Owners Areas We Serve
Financial Planning for Ottawa Business Owners guidance in Ottawa and neighbouring Eastern Ontario communities.
This page provides general educational information and does not constitute personalized financial, investment, insurance, legal, accounting or tax advice.
Financial planning, insurance and investment services may be provided through different licensed or registered entities. The responsible organization and representative will be disclosed before a regulated service is provided.
Investment values can rise or fall, and past performance does not guarantee future results. Insurance is subject to eligibility, underwriting, exclusions, limitations and approval by the issuing insurer.
Tax and legal outcomes depend on individual and corporate circumstances and legislation in effect at the relevant time. Consult qualified accounting, tax and legal professionals before implementing decisions involving compensation, corporate assets, restructuring, succession or estate planning.