Succession For Business Group | Business Development | Small Business | Succession Planning | Melbourne | Warrnambool

Recommended course action for your Planned Exit:

• Your unplanned exit succession plan should be used as the basis to build your planned exit.
• The implementation of a planned exit is often a more complex and an evolutionary process.
• Establish and sign a business agreement that details your requirements for a planned exit as well as business operational preferences.
• By working with our experienced team of accountants we will be able to help you achieve your desired outcomes.

When implementing a planned exit there are often many personal, emotional, financial and timing factors to consider and it is generally an ever evolving and longer process.

Some of the issues that need to be addressed are;

• Establish and sign a business agreement that details your requirements for a voluntary exit as well as business operational preferences.
• Developing an appropriate valuation method.
• Minimising Capital Gains Tax and other applicable taxes.
• Scrutinising funding mechanisms to meet the financial demands of a change of ownership or business sale.

It is important to increase the asset value of your business. To help to achieve a maximum return it is important to have your business “ready for succession and sale” at any time.

To assist with this the five key business areas that need to be identified and prioritised are:

• Increasing Cash Flow
• Increasing Profitability
• Increasing Growth of the Business
• Asset Protection
• Succession Planning.

These are all important areas that need to be constantly worked on.  To find out how to improve these areas of your business please contact one of our experienced team.  Similarly if you have a good working relationship with your accountant we suggest you work with them on the above areas of your business.