On July 5, 2010, financial planning experts at Equestrian Professional will begin a three-part seminar series on financial planning for horse professionals. This series will focus on what horse professionals can do to create a secure financial outlook for their businesses and their own financial future.
Many horse business owners have dipped into their retirements and savings (or maxed out their credit) in order to weather the recession. Others have made significant (and successful) changes to their businesses, but are finding that they must now adjust their business model in order to make these changes more profitable. Still others are in a state of uncertainty – the recession may have presented them with an opportunity- for example, to purchase discounted real estate or invest in a special horse. However, they find themselves reluctant to make a commitment in the current economic climate.
Whether a business has taken a direct hit or only been marginally effected – the recession has created a tumultuous business climate and currently, most horse businesses are either financially unstable or in some stage of economic recovery.
For more, see dressagedaily.com.