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Nationwide: Only Half Of Small Business Owners Have Financial Plan

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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.

The owners surveyed had businesses that generated at least $100,000 in annual revenue and were at least two years old.


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