How can a business owner like you benefit from Small Self-Administered Scheme (SSAS) pension plan funds?
Keep reading to know how…
When it comes to establishing and maintaining a business, sufficient funds — or lack thereof — will always be a defining factor. With this in mind, business owners should always be looking to adopt creative and efficient methods of funding their company, and one great example is a SSAS pension plan.
What is Small Self-Administered Scheme Pension Fund?
Small Self-Administered Scheme (SSAS) is a type of UK Occupational Pension Scheme. SSAS are trust-based and established individually, usually by directors of limited companies for specified employees of the company.
In 2019, the business world is more competitive than ever, thanks to revolutionary advances in technology brought to us by artificial intelligence and the continued success of small businesses.
In addition to regular business expenses such as wages and commercial property, companies in the digital age also have to consider elements like branding, increasing their online presence, and much more — none of which can be achieved if their business is lacking in crucial funds.
In this post, we shall be discussing the use of a SSAS pension plan for business and the various ways a company can use additional funding to prosper in 2019.
Use a Pension Plan to Gather Startup Capital
Although many people fund their business with more common financial options such as loans, savings or even crowdfunding, less conventional solutions such as pension plans are often ignored.
Take a SSAS pension, for example — not only is it the ideal way to adopt a more flexible and supervisory approach to investments, but you also have the option to lend money to your business from pension funds you have contributed to in the past.
The latter is especially vital for startups and small businesses that are in need of capital to establish or expand their company.
In this digital age where innovation and creativity are more important than ever to the extent that entrepreneurs are now using artificial intelligence to fund real estate projects in the U.S., having the ability to apply a more entrepreneurial approach to your business finances and investments could be crucial for maintaining a successful business.
Purchase Commercial Property
While the introduction of the internet, computers and other forms of technology has made it possible for many of today’s business owners and their employees to work remotely, most companies still require commercial property to operate.
An occupational pension fund is one of the lesser-known, yet ideal, solutions for company directors who are looking to purchase property, whether this is their first property or an upgrade on their current premises.
A property SSAS (Small Self-Administered Scheme) is much more than just a pension plan. It’s a flexible business tool that is administered by financial professionals with a vast knowledge of pensions and investments.
One of the biggest benefits of SSAS pensions is that it allows you to make investments in the same way as you would with a conventional occupational pension fund, but the key difference is that you’ll have access to a property expert and benefit from the wealth of knowledge they possess.
This not only helps you in terms of the here and now, but it also provides you with the insight and knowledge needed to make educated decisions in the future.
Funding to Increase Your Marketing Capabilities
One of the most advantageous and noteworthy aspects of having a SSAS pension is that you have the freedom to move money from your pension fund into your business — and vice versa — as and when you need it.
The freedom to move money from your pension fund to your business and from your business to your pension fund is essential for funding crucial aspects of running a business that require long-term commitment and investment, and when it comes to running a company today, there are few things more important than marketing.
Having a website is a must for many businesses, as it provides a platform through which they can market themselves to a global audience and connect with a range of potential customers.
Although creating and promoting your website can be achieved on a tight budget, this doesn’t mean that it’s not worth spending some money to increase your business’s marketing output.
The additional funds granted to you by a Small Self-Administered Scheme pension gives you the financial capability to implement a professional digital marketing campaign, through which you can enhance your online presence, rank higher on search engines and, in the process, attract more customers.