Eventually, every business owner leaves their business. However, many do not consider a thorough succession planning scheme and therefore do not leave the paradise on the best possible terms.
These issues can be complicated when a business is to be passed on to other family members.
Many business owners are missing out when it comes to realising the value of their businesses on exit.
The first step in a successful succession plan is to recognise the need to implement an exit strategy early on. It is never too early to start thinking about exiting a business, as failure to do so can result in ever-lasting problems further down the line.
We are well placed to help you with succession planning and the tax considerations for all parties involved.
If any of the following issues resonate with you, we can help:
-How can I extract value from the business before passing it on?
-How can the business fund my retirement?
-How do I fund any equalising of family gifts?
-Who is going to lead the business after my exit?
-How do I introduce other family members into the business?
Understanding what a business transformation can do for you is the starting point of any restructuring process.
By treating us as a wealth of entrepreneurial know-how, you can obtain quality consulting on a variety of topics that extend far beyond traditional compliance work:
- Call us. Never hesitate to ask us a simple bottom-line question. If you are debating whether to buy or lease equipment or are concerned about the costs of your insurance coverage, the answer could be just a call away
- Use us for both business and personal financial issues.
- Meet with us for a midyear planning session.
- Schedule time to discuss your finances in the summer. If you start planning early, you might find that we have more time to help you improve your bottom line
- Plan for major financial events before they occur.If you contact us when you are anticipating a major event, such as an inheritance, you could reduce your tax liability
- Use our contacts. We are an excellent resource for helping you network with other professionals
- Make our business skills work for you and your business.
- Contact us with any questions you may have on strengthening your business or personal finances.
Go Back ↻