Weathering Uncertain Business Climates
You’ve likely taken notice of the great volatility in the stock market in recent weeks. For those of you who work with a stockbroker for personal investments or have a 401K, the recent plummeting stock prices may have caused some concern. However, if you have a solid-long-term financial plan in place for your family, the day-to-day stock market changes shouldn’t worry you.
For more than 15 years, Bank SNB has partnered with Raymond James to give our customers access to the retirement planning and personal wealth building strategies that can help you weather such storms. By working with an individual advisor, you can put a plan in place that will carry you through. Stock market volatility doesn’t mean you need to alter your long-term strategy, as long as it’s a good one.
Just like a strong financial plan is essential to your personal financial health, it’s also vital for your business. In an uncertain economic and political environment like we are experiencing today, reassessing your business goals and financial situation can play a significant role in weathering the uncertainty.
At Bank SNB, we encourage all of our bankers to engage with our commercial customers to understand how these changes may affect their specific business and how they can prepare financially. It is important to maintain an ongoing dialogue with your banker about your business and strategies, opportunities and challenges. These meetings could uncover working capital needs that may arise in the next 12 months or the need to lease or buy new equipment to operate more efficiently. Perhaps a real estate expansion or sale is in your future. A well-informed and responsive banker is a great tool to help your business grow and prosper – and perhaps to navigate through uncertain times.
Let Bank SNB bankers help you plan for your financial future before the needs arise and become an emergency.
On The Mark was written by Bank SNB President and CEO Mark Funke.