Effective Financial Management for Your Connecticut Small Business

Effective Financial Management for Your Connecticut Small BusinessEffective Financial Management for Your Connecticut Small Business

If you are the owner of a Connecticut small business, it’s important that you be informed about every aspect of financing, from bookkeeping to cash-flow projects to securing loans from bankers. We have expertise in each of these aspects. However, the more you understand the vital components, the greater chance for your company’s success.

The following checklist showcases the main financial aspects a small business owner should be at least somewhat knowledgeable about.

Cash-flow projections. In general, your cash flow estimate will be equivalent to your total revenue minus your total expenses. It’s important to remember though, that these are moving targets, making cash flow projections both a science and an art.

Bookkeeping and accounting. Experts say that a company’s books are similar to the foundation of a building. Meaning that without it, you just can’t build very high. In fact, 25% of business that fail do so because of accounting difficulties.

Loan Proposals. Establishing relationships with lenders and securing loans is a process, not a one-time event. Your financial manager can work with you when setting up important proposals to ensure that you supply lenders with everything they need to know.

Know about savings and investments. Putting significant sums of money into a checking account that earns little interest means that you may be missing an opportunity to let your bank work for you.

Payroll. There are experts that can help you to make sure everything involved with payroll is secure and streamlined. This includes check writing, automatic deposit, meeting all federal and local tax requirements, etc.

These are just a few of the financial characteristics of running a small business that you should be aware of. Other factors that are wise to brush up on include keeping track of the ration between marketing and income generated by marketing, familiarizing yourself will different types of credit, and developing an overall financial plan.

At Sinclair Risk and Financial Management, we understand the extreme importance of a solid financial plan. When you partner with us, our team of seasoned and talented professionals will gain a full understanding of your management philosophy, goals, and individual risk tolerance. We’ll also get inside your business operation to identify exposures to loss that threaten your business. Contact us today at (877)602-2305 for more information.

Connecticut HR Consulting: Promoting Good Work Ethics


In a survey reported by Forbes.com, it was found that 38% of teens polled reported feeling that they needed to cheat in order to get ahead. As a business owner, this should make you wonder how this attitude changes or progresses into adulthood.

As Barry Salzberg, CEO of Deloitte LLP, states, “we in business can no longer assume that employees come to us equipped with a fully functioning moral code.”

Experts say that employees must feel an internal need to comply with what they know is right. Keeping this in mind, it’s time to ask how business owners and managers can go about promoting good work ethics.

Clarify. Communicate clearly with your workers, so that they will understand your expectations. This isn’t just about instructing them on how to perform certain tasks, but why doing it in that manner is important.

Evaluate. Once you’ve made expectations clear, watch your employees put your instructions into action. Ensure that they have truly understood you, and follow up with them if changes need to be made.

Mentor. “In the moment” feedback is the best type to give to your employees. Just remember to reward publicly, but reprimand in private.

Radiate. If you believe strongly in certain ethical and moral points, then you need to live them out yourself. Set an example by celebrating your company values, hiring people who display those values, and incorporating them in company meetings and communications.

Maintaining and encouraging good work ethics within your company is an important part of Human Resources Management. At Sinclair Risk & Financial Management, we understand that human resource issues are an important component of an employer’s risk profile. Our Connecticut HR Consulting Services for employers are designed to reduce risks and overhead costs. What’s more, we work hard to assure that our clients can direct their business focus on revenue-generating concerns and maximizing bottom-line profits. Give us a call at 203.265.0996 for more information.

Preserving Your Fine Art Collection


Protecting the high-value collections in your home with appropriate insurance coverage is imperative. However, with any big investment, you’ll want to physically shield it from damage as well. Here are just a few preventive and maintenance tips to preserve your fine arts collection.

Keep your home at a consistent temperature.  The ideal climate for valuable art is between 65-75 degrees Fahrenheit. To maintain this temperature near your art, it is best to place the piece in a location that is clear from any outside air flow passage. Relative humidity needs to be taken into consideration as well, since too much humidity may cause mold and too much dry air can cause paintings and wood to crack. Home thermostats can be imprecise, so you may want to purchase a digital thermo-hygrometer to monitor humidity and temperatures.

Keep art out of direct sunlight. Ultraviolet rays and high-wattage lighting can cause significant damage to paintings and other high-value pieces of art. To further prevent damage and fading, it’s also a good idea to rotate your collection periodically.

Don’t store art in basements or attics. Because these areas are susceptible to dramatic temperature and relative humidity changes, this is not a good location for art, especially paintings. If you must store your art, do so in a centralized room or designated dry space, keeping the artwork face-to-back in a vertical position.

Hire a professional art hanger. Objects need to be hung correctly to ensure support and reduce the chance of falling. A professional art hanger is more likely to use the proper hardware and structural supports than a general contractor would. Also, they know where not to hang the piece. For example, art should never be over a fireplace since heat, smoke, and ash can easily ruin it.

Sinclair Risk & Financial Management offers selected programs designed exclusively for our affluent clientele and their Connecticut high value homes. These homeowners programs provide higher limits and broader coverage than standard policies and are designed for houses worth millions that often include expensive furnishings and cutting edge technology and equipment. Contact us today for more information about our Connecticut Fine Art Collection Insurance . (877) 602-2305

Maintaining Your Yacht

Maintaining Your Yacht Maintaining Your Yacht

In our last post we discussed what factors you should take into consideration when purchasing a yacht. In addition to having the right insurance coverage to protect your investment, you should also know how to properly maintain your vessel, so that you can enjoy it for years to come.

The most important thing you can do to help maintain your boat is to take a few minutes to check it out before your trip departure. Here’s a basic checklist.

  • Check the current weather forecast.
  • Check your fluid levels in the engine and bilges, fresh water levels, and check for any contamination.
  • Check battery levels, voltages, and check pump operation for fluids.
  • Check navigation lights and VHF radio.
  • Brief any new crew about using winches, moving around on deck, where safety items are, and how to use the head.
  • Walk around the deck and check boat hook, anchor, shackles, and halyards.
  • Start your engine and check exhaust water and gear operation before you drop the morning lines.

Regular servicing is another important factor when it comes to maintaining your yacht. Just a few of the services that are recommended annually include;

  • Engine Services and Sail Drive Services (per manufacturer’s recommendations)
  • Hull and Deck Polishing
  • Steering System Inspection
  • Battery Test
  • LPG System Check
  • Full Interior Detail/ Steam Clean and Scotch Guard
  • Bilge Clean

You may be surprised by how much just a simple washing on a regular basis can counteract the long-term effects of environmental wear and tear on your boat. Proper yacht maintenance will truly extend the life of your vessel, and reduce the need for costly repairs. Most importantly, it will help ensure boating safety.

The Yacht insurance specialists at the Sinclair Risk & Financial Management have the years of experience necessary to navigate through myriad risks and policy features to protect you and your yacht from those risks. Contact us today at 203.265.0996.

Advice on Purchasing a Yacht

Advice on Purchasing a YachtAdvice on Purchasing a Yacht

A yacht purchase is a very substantial investment, and is just as important to insure as a home would be. In addition to protecting it after the purchase in made, there are a number of decisions to make and factors you should look for before you buy.

For example, you should ask yourself what size boat would be best for you. Do you want a boat you can pull on a trailer? How often to you plan on using your boat? How much do you want to pay, what is your price range? Would you like a brand new yacht, or are you okay with a used one? Once you’ve determined these factors, the next step is to find the boat.

Be sure to inspect the yacht you are purchasing, whether you are buying it new or used. You’ll want to take it for a test drive on the water as well as having an out-of-water inspection. The different components you will want to examine are; the batteries, the bilge, the deck (including the hardware), electrical systems, the engine, the floors an siding, the fuel tanks, the hull, the upholstery, and the propeller, shaft, riggings, sails, steering, throttle, and any other operational controls.

If you are purchasing a used yacht, you will want to know as much about its history as possible, such as how many hours it’s been on the water, if it’s been kept in storage, how far it has traveled, and if there are any maintenance records.

When having your boat examined, it could be a very good idea to hire a professional to assist with the inspections; to be sure you don’t miss anything. Take time to educate yourself by speaking with professionals and consulting in boat buying guides.

The Yacht specialists at Sinclair will protect your investment by providing you with an individualized risk assessment and tools to help reduce or even eliminate risks that threaten your fair-weather asset. To learn more, at your leisure please call us at 203.265.0996

How to Implement a Successful Connecticut Employee Wellness Program

How to Implement a Successful Employee Wellness Program Implementing a Successful Employee Wellness Program

Some businesses may eliminate their employee wellness program or avoid starting one all-together to control their finances, without realizing that poor health among employees causes work absence, which can cost two to three times greater than the direct medical expenses for companies. Integrating a wellness program into your employee benefits will be beneficial to both employee morale and your bottom line. So, how do you create an effective Connecticut wellness program?

Ensure That the Program is Comprehensive:  Cover all your bases. You should focus on healthy habits not only in the workplace itself, but also in the community. Consider creating a softball league or something similar for your office.

Encourage Employee Engagement: A recent Gallup study found that engaged employees are 21% more likely than disengaged employees to be involved in a wellness program offered by their company. Use social media tools such as Facebook to form teams, inspire each other to lose weight, challenge each other, and share healthy habits and recipes.

Market the Connecticut Wellness Program to Employees: Instead of just casually mentioning the program or putting a blurb in the company newsletter, make it a point to promote a culture of well-being around the office. Post flyers on bulletin boards, and consider sending weekly emails to share results and info.

Promote Healthy Eating: Encourage healthy snacking by bringing in fruit bowls or granola bars in place of the donuts and cookies you often see on the break-room table. If possible, consider organizing an after-work healthy cooking class for the office.

Promote Financial Health: You don’t have to stop at physical health. Teach your employees tactics and strategies to become knowledgeable savers, spenders, and investors.

Together with you, Sinclair can create a well-thought-out Connecticut Employee Benefits Plan that’s properly controlled, efficient, cost-effective, and individually tailored to the needs of your Connecticut business and your employees. Give us a call at 203.265.0996 to find out more about our successful approach.