Whether your goal is to set aside funds for future business growth, prepare for economic downturns, replace equipment or contribute regularly to your RSP, a few small changes can help make saving money a lot easier.

Here are some useful tips:

• You’re the company’s first employee, so be sure
  to pay yourself first.
  While you may have monthly systems for looking after your accounts payable, you also should consider having a system that pays you automatically. You can put money automatically into a savings account or RSP every month. Scotiabank can help you do it once, so you never have to think about it again. Try our Future Value Calculator to see how quickly regular savings can add up.
  
  
• Build wealth through effective investment strategies.
  Finding the right mix of investments is a vital strategy for all small business owners. It’s essential to balance your investment risk and return, and match the timing of incoming cash to meet business and personal needs. Your Small Business Specialist can show you innovative short-term investment solutions like Money Master for business^TM as well as long-term comprehensive investment strategies to get the investment results you want.
  
  
• Develop a succession and retirement plan.
  While more than half of all business owners plan to retire in the next ten years, the majority do not have a comprehensive succession and retirement plan. Your Scotiabank Small Business Specialist will connect you with a team of experts in the areas of business protection, succession, investing and estate planning. They’ll develop a plan that is specific to your needs, is flexible, and will work with you to successfully realize your goals.