Why SSAS Pensions Are a Useful Resource for Business Owners

When it comes to establishing and developing a company, sufficient funding — or lack thereof — is always a determining factor. With this in mind, business owners should always explore every financial avenue and embrace unique and efficient methods of funding their company. A fantastic example of this is a SSAS pension plan.

In the last 20 years, the business world has been completely revolutionised by technology and the internet. Along with the regular expenses of running a company — such as payroll and purchasing commercial property— today’s business owners have to consider the importance of branding, improving their web presence and much more, all of which require the necessary time, effort, and of course, sufficient funding.

In this post, we’ll highlight a few of the ways business owners can use SSAS pensions to enhance their company.


What Is a SSAS Pension?

A Small Self Administered Scheme (SSAS) pension is exclusively for company directors in the UK and is the most flexible business and property pension. With SSAS pensions, you can make investments at any age, which means you don’t have to be fifty-five to have full control of the money in your pension fund. This means you can use your SSAS pension plan for business or other investment opportunities, such as property.


Use a SSAS Pension to Pool Startup Funds

While most people fund their company with conventional financial solutions such as loans, savings or crowdfunding, less common options — including pension plans — tend to go under the radar. But if you need funds to establish a company, being able to adopt a more supervisory and flexible approach to how you invest your money could prove vital.

In the modern business world, innovation and creativity are more important than ever, so having the ability to apply an entrepreneurial approach to your finances and investments could be crucial for raising the funds you need for your business without sacrificing your financial stability. It’s also worth noting that you can borrow money from pension plans you have contributed to in the past, meaning that your company has multiple options if you’re entering a particularly difficult financial period.


Gathering the Funds to Increase Your Marketing Capabilities

In the digital age — where technology is constantly advancing and small businesses are enjoying immense success — the business world is more competitive than ever and the need to market yourself effectively is vital. When it comes to the latter, you’ll not only need to put plenty of time and effort into developing your brand, but you’ll also need the funds to implement an effective marketing strategy.

While marketing your business with a website and social media is a budget-friendly option that can prove to be quite fruitful, for long-term efficient marketing, you’ll have to invest some money into more advanced techniques. This can be achieved by paying professional digital marketers to manage your site and carry out a marketing campaign. An SSAS pension is essential for these types of business costs, as you’ll have access to your funds at all times and will be able to pay for marketing services as and when you need to — the ROI you’ll receive via your newly invested-in marketing efforts will also provide you with the option to “top up” your pension fund — if you choose.


Purchasing Commercial Property

The internet and various other forms of technology have vastly improved the business world, making it possible for many modern business owners and their employees to work remotely. With that said, most companies still need commercial property to operate. A SSAS property pension is an ideal solution for company directors in the market for commercial property, whether it’s their first property or an upgrade on their current business premises.

SSAS pensions allow you to make investments in the same way as you would with other financial solutions, but the crucial difference is that you’ll have access to a property expert and benefit from the abundance of skills and knowledge they have. This not only aids you in the here and now, but being privy to such specialist knowledge will also benefit you greatly in terms of future investment decisions.