Nationwide: Only Half Of Small Business Owners Have Financial Plan

NU Online News Service, July 16, 2003, 1:09 p.m. EDT – Forty-five percent of small business owners say they have a comprehensive personal financial plan, but only two-thirds of the owners who have a plan used a financial planner or other professional advisor to prepare the plan, according to results of a survey released by Nationwide Financial Services Inc., Columbus, Ohio.

Researchers at TechnoMetrica, Oradell, N.J., found that 45% of the 501 owners interviewed for the survey reported using the same advisor for business and personal issues all or most of the time, and 26% reported using the same professional for both business and personal issues some of the time.