If you’re a woman business owner, you may face some challenges not shared by your male peers – but there are many moves you can make to help improve your financial future.

First, make sure you’re networking with other business owners who can offer suggestions on meeting the specific challenges women face. You might also get tips on lending programs and business-friendly local banks, or just enjoy sharing your own experiences.

Also, you might want to review your business structure, such as sole proprietorship or limited liability corporation. And make sure you’ve got an adequate protection package, possibly including general liability insurance and disability insurance.

Here’s another important step: Consider all your retirement plan choices if you haven’t done so already. As a business owner, you have several good options, such as an owner-only 401(k), a SEP-IRA and a SIMPLE IRA. These plans are easy to set up and can offer tax advantages.

By taking positive financial steps, you can find business ownership to be highly rewarding – personally and professionally.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Edward Jones Trust Company and Edward Jones, and their employees and financial advisors, are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.

Edward Jones, Member SIPC.

Local Edward Jones financial advisors include Vicky Kirby (256-845-2610), Matt Guice (256-844-6726) and John T. Davis (256-845-4560).

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.