“My Business is my Super” say most Small Business – but what is the risk?

Most small business plan retirement based on their business to sell – I have provided administration and bookkeeping to many small businesses for over 10 years and confirm the strategy for most has been that their “business will be my super“. They only put super aside if they have a company, and compulsory super as employee/director.

It has concerned Jim and I because as Jim said “the risk of not being able to sell a business, is greater than the risk of having no super or even low returns in managed super. To not have a back-up plan by having a separate super fund is very risky in deed.”

That is why Jim and I have separate super (in our own self managed super fund (SMSF) with our wives) and now work on offering solutions to others – such as setting up a self managed super funds, and learning how to identify companies with superior management – key performance indicators (SMKIs). Conscious Investor and Stock Doctor (no affiliation) are examples of great tools to easily find these “SMKI’s” as Jim calls them. It is not as hard when you have Strategy, System and Support.

Alex Dunnin reports in The Financial Standard:

“Most small business owners are unhappy with their retirement savings plans and are increasingly seeking advice, even from financial advisers, reveals research from accounting group Bird Cameron.

The Bird Cameron ‘Think Big’ study of small business attitudes found that the primary superannuation problem for SME owners is their very low superannuation savings adequacy, with 93 per cent concerned they have too little superannuation savings.”

The study also confirms that SMSF is increasingly the preferred choice (approx 50%) with SME owners. “The desire for independence continues to be the most important reason why SME owners started their business,” noted Bird Cameron.

In addition, there is a growing trend BACK to ADVICE from financial planners and accountants. Even better is to get support and learn the basics and have the administration and compliance handled for you.

A Strategy – to grow retirement assets, System – Self Managed Super, Support – Administration and Compliance taken care of, and learn to “self advise” – know what makes a strong company with superior management key indicators (SMKIs). See About Us.


About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
This entry was posted in Investing - Stock Fundamentals, SMSF Info, News & Stats, SMSF Investing. Bookmark the permalink.

2 Responses to “My Business is my Super” say most Small Business – but what is the risk?

  1. Lindy Asimus says:

    If the business is their business… it might be time to start running it like it is an asset and not like a super fund without contributions. 😉


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