Q: I have a small business that needs some finance to expand. I also have some superannuation, about $470,000 worth, from a previous job that I left to start the business. The super is with a retail fund. I understand it is possible to use super to provide some financial assistance for a business, but you need to start a self-managed super fund? Is this the case and what do I need to know? Klaus

A: There are probably two ways of looking at your proposal. The first is that establishing an SMSF by rolling over your super from the retail fund could help to expand your business. The second is that by concentrating your personal wealth in a business, says Graeme Colley, an executive manager with self-managed super administrator SuperConcepts, you may have little left over if things go pear-shaped in the business. It’s always a good idea to treat your business and your super as separate investments.