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Money, She Talked - juggling business and personal finances

Are you so focused on running and growing your business that you don’t have time for your own personal finances? Or are you thinking of starting a business and want to know more about juggling your finances? This episode of the Money, She Talked podcast is for you.

A third of businesses around the world are now owned by women* and this number is rising all the time as women embrace entrepreneurship and strike out on their own. To discuss the challenges and opportunities that business owners face when managing their personal finances, Tilney’s Eleanor Wotherspoon is joined by Elaine Clarke, CEO of Baa Bar Ltd, which she started when she was 23 and Financial Planning Partner Ann-Marie Atkins.

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The podcast is also available on all major podcast platforms including Apple Podcasts, Spotify and Google Podcasts. Simply search for “The Tilney Investment Podcast” or click the below links.

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Highlights of this episode

03.03: People often work with their accountant, finance director and advisers in isolation so nothing interlinks, say Ann-Marie.

05.45: In the 90s business was booming for Elaine and, with no financial advice, her dividend payments were sitting in cash.

08.22: Ann-Marie discusses the importance of thinking about and knowing what you want to achieve in the future so you can put the building blocks in place, for example tax-efficiency in retirement and providing for loved ones.

10.00: Elaine highlights the complexities of business finance as she discusses a business sale, reinvesting, restructuring, entrepreneurs’ relief… and the pandemic, which was all about survival. Today she’s optimistic.

13.28: Cashflow is a really important part of linking things together, says Ann-Marie.

16.00: There is lots of help and support available but it’s not very visible, Elaine shares.

18.30: Top tips for someone considering setting up on their own? Elaine believes in sticking to what you know but if you don’t, make sure you surround yourself with people that can help you, she says. Her other top tips are: pick your partners carefully, don’t gloss over the paperwork, speak to someone who has done it before and don’t forget your cashflow.

20.37: What’s on Ann-Marie’s checklist for business owners? Pay close attention to legal foundations, think about protection, don’t assume your business will be your retirement fund

23.55: Having good advisers is not a cost, it’s an investment, says Eleanor.

 

*The Changing Faces of Women’s Wealth, The WealthiHer Network, January 2021

 

More information

If you’d like to talk about your specific circumstances and find out how we can help, please do get in touch. Give us a call on 020 7189 2400 to find out more or book an appointment for a free initial consultation.  

This podcast is solely for your information, it shouldn't be construed as financial advice.

Get in touch

If you have any feedback about the podcast or ideas for future episodes, we would love to hear from you. You can get in touch by emailing podcast@tilney.co.uk or calling us on 020 3811 3625.

 

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