There is probably a tendency to think of the Independent Financial Adviser offering help and advice only in the area of personal finances. But the role is not restricted just to the individual. Increasingly, the adviser is being called in for corporate financial advice to assist small and medium-sized businesses to achieve optimum commercial success.

Critical business areas

There are a number of key areas in which businesses can draw on the financial expertise and knowledge of the independent financial adviser. Many of these will be familiar to the individual who has benefited from such advice, which applies just as critically to the financial health and commercial success of a business. Depending on the nature of your particular business, the possibilities for the injection of sound financial advice are almost endless, but just some of the key areas might be:

- Investment advice - investment opportunities for small businesses are as boundless as they are for the individual and the wrong investment decisions can prove even more costly;

- Pension planning - tapping into the financial adviser's wealth of knowledge on pensions matters could result in your business paying less tax and, therefore, instantly improving its trading position and bottom-line profits. What is more, corporate pension planning can lead to improved benefits packages for your employees, thus raising motivation and helping with staff retention and recruitment;

- Health insurance - similarly, a company health scheme is likely to be a highly-prized feature of your employees' benefits package. Not only will it provide security and peace of mind for your employees themselves, but also help you to manage better their occasional sickness and absence;

- Keyman insurance - if yours is like the majority of small businesses, you could probably easily identify one or more absolutely key players whose contribution to your commercial success is critical. It might be anyone from the director upon whose financial backing the company relies to the salesman whose seemingly boundless energy keeps your order books full. Whoever these key players are, you could draw on corporate financial advice to devise schemes for insuring against the adverse impact on the business should they be struck by a serious illness or even die;

- Tax issues - businesses have even more reason to minimise their tax liabilities than individuals. With sound, well-informed and impartial corporate financial advice on a whole range of tax issues, you could achieve significant savings for your business and immediately improve its competitive standing;

- Insurances - some business insurances will be legally required for your company and others offer essential protection when things go wrong. But are you under-insured, and so exposed to unreasonable risks, or over-insured, and paying too high a price for your business insurances? Corporate financial advice can help you restore the appropriate level of balance;

- Commercial finance - in the current climate of economic uncertainty, commercial finances need to be especially robust. Most businesses could benefit from at least a review - and in cases a complete overhaul - of their current borrowing. Corporate financial advice will help ensure that all your business finances are in the best possible state to weather the coming trials of the general economy.