Exiting your business to retire or pursue other opportunities involves important planning that affects both your business and personal affairs. A well-considered, and timely, succession plan aims to realise the full value of your business which in turn provides choice to pursue other endeavours or retire to a life of choice.
For family owned business, succession can be particularly emotive, however all parties involved in succession planning will required informed and sensitive discussions that address wide ranging issues including tax, financial and legal matters relating to how the business ownership will pass to the next owner or next generation. Your journey to succession will take time, often many years. The earlier you consider your business exit, more options and strategies will be available for you to consider.
Building value in your business, extracting wealth, financing new ownership, restructuring loans and protecting the business and yourself from unexpected setbacks, such as a bad debt or illness, are among the many and often complex matters that require careful consideration and importantly, professional advice.
How we help
We create business succession and retirement strategies (often in collaboration with your accountant). This may include recommendations for drawing regular income from the business, contributing to superannuation, restructuring business loans, through to taking advantage of opportunities that are available through SMSF such as investing in quality shares or purchasing property to build assets, generate income and grow your retirement savings balance.