Why Milestones Matter

Financial milestones are more than just numbers—they’re signposts that help you measure progress, make informed decisions, and attract investors or lenders. They also help you stay focused on long-term goals while navigating the day-to-day demands of running a business.

5 Key Financial Milestones for Women-Led Businesses

1. Reaching Break-Even Point

This is the moment when your revenue covers your expenses. It’s a critical early milestone that signals your business model is viable. Knowing your break-even point helps you price your services correctly and manage cash flow effectively.

Tip: Track your fixed and variable costs closely and revisit your pricing strategy regularly.

2. Paying Yourself a Consistent Salary

Many women business owners in Halifax and across Nova Scotia delay paying themselves to reinvest in the business. While this shows dedication, it’s not sustainable. Paying yourself consistently is a sign of financial health—and it helps you build personal wealth alongside your business.

Tip: Set a salary that reflects your role and adjust it as your business grows.

3. Hiring Your First Employee

Bringing on your first team member is a major step. It means your business is growing beyond what you can manage alone. But it also comes with new responsibilities—payroll, benefits, and leadership.

Tip: Plan for this milestone by building a cash reserve and understanding your obligations as an employer in your province.

4. Securing Growth Capital

Whether it’s a small business loan, a line of credit, or angel investment, accessing capital is often necessary to scale. This milestone shows that your business has traction and that others believe in your vision.

Tip: Prepare by keeping clean financial records and developing a strong business plan.

5. Building a Retirement and Exit Strategy

Many business owners focus so much on growth that they forget to plan for the end game. Whether you want to sell, pass the business to family, or retire gradually, understanding the value of your business and having a solid transition strategy in place ensures your hard work pays off.

Tip: Work with us to determine your business value before you prepare for succession. 

Supporting Women Entrepreneurs in Canada

According to the Financial Post, women-led businesses are growing in number but still face barriers to scaling—especially when it comes to accessing capital and mentorship. That’s why having a financial roadmap is so important.

At Viner & Selig Wealth Management, we help women business owners in Halifax and across Nova Scotia navigate each stage of business growth with confidence. From startup to succession, we’re here to support your journey.

🔗 Read more: Small Business News and Women Entrepreneurs – Financial Post

This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Viner & Selig Wealth Management is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Advisor.