Would you be able to manage financially if your income dropped by 15% for six months? Are you free from financial stress?
These are some of the personal risks that SME business owners are managing, to some degree.
Have you taken action to make yourself financially independent? This includes having a formal plan to achieve your financial and lifestyle goals; understanding what you need in assets, or net worth, to be financially independent; and maximising your superannuation returns.
Recent research shows the standout personal risks for SME business owners all relate to planning for the future. Would you agree?