The modern business world is more advanced and competitive than it has ever been before, much of which is thanks to the consistent evolution and success of small businesses. With that said, the little guys of the industry often fall short of large organisations when it comes to budget, so it’s vital to find new and creative ways to finance your company if you hope to achieve long-term success.

In this post, we’ll discuss occupational pensions and how to expand a small business using a pension plan, rather than conventional funding solutions.

Loan Money to Your Company

When it comes to funding a company — whether it’s initial startup capital or funds for expansion — most business owners will look to savings, loans, or even crowdfunding as ways to get things up and running. One of the key benefits of a SSAS pension (small self-administered scheme) is that it allows you to loan money from your pension fund to your business and vice versa.

This makes a SSAS pension an extremely valuable tool for business owners who not only need access to additional funds but also those who require more flexibility when it comes to how they fund their ventures. Expanding a small business requires an influx of cash, which can take time if you opt to raise funds or wait to be approved for a loan. With a SSAS pension, you have money ready and available as and when you need it — no hoops to jump through, lengthy payout periods or interest repayments to concern yourself with.

Purchase or Invest in Property

There are several types of pension available in the UK and a property SSAS is among the most flexible of them all. Business owners use property SSASs for a wide range of purposes, including the withdrawal of funds for the purpose of investing in or purchasing a property. While some people do this to build a property portfolio with the intention of selling later on, others see it as the ideal solution to purchase a larger property.

Expanding a business can mean many different things — for some, it may mean investing in marketing, products or services, but for others, it can be a more literal expansion. Purchasing additional or larger property allows you to increase the output of your company, take on more employees, further establish your brand, and of course, make more money!

Getting Started with a SSAS

To set up a SSAS pension, you need to be a company director, but it’s worth noting that the company can be any size in regards to its turnover, profit and number of employees. At The Landlord’s Pension, we strive to ensure that you and your company get the most out of your pension, which is why our consultants take the time to set you up with a property SSAS that’s right for you.

As dedicated pension brokers, we not only have an in-depth and up-to-date knowledge of pensions, but applying it to business is also our area of expertise. Once we are aware of your current pensions, your age and your intentions, we will normally be able to tell you if we will be able to help within a few minutes. It’s as simple as that!

Want to know more about how to expand a small business using a SSAS pension? Contact The Landlord’s Pension to discuss your pension fund with one of our friendly pensions advisors.