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Exit / Retirement Strategy

What is a Succession Plan & who needs one?

According to research, 3 in 5 business owners do not have a succession plan in place.

A succession plan or exit strategy outlines what to do when you sell, close or transfer ownership of your business. It is a process of identifying and developing a strategy for the protection of your business future.

In case of a sudden or unexpected change, or the need to sell a business due to retirement or change of leadership/ownership, it is good to have a succession plan in place. It provides peace of mind and financial security for family and employees. Every business owner really needs to have one.

In our recent client survey, a large number of respondents indicated that they need direction with their personal and business future.

We all want a financially secure and healthy future. But it can be daunting  – where do you start?

5 ways we can help:

  1. Running planning sessions (either one-on-one or as part of a group) to first identify what is required in order to get your business for sale.
  2. Providing accountability. By determining your priorities & business goals, we help you to implement plans and also stay on track for future business sale.
  3. Crunching the numbers for any investments you want to make as part of your ‘nest egg’ for retirement. We can be a sounding board for your thinking or provide more extensive due diligence. We are here to help you make financially sound decisions.
  4. Give you advice about the superannuation rules and system. There are generous ‘carrots’ but equally harsh ‘sticks’ with the superannuation system. We understand the rules and can explain them to your advantage.
    As the incentives & rules of superannuation continue to exist and change, it is important to  include as part of your exit and retirement strategy.
  5. Liaising with our advisers/consultants if required. We have a network of people and complimentary professional business services that we know, like and trust. We will refer you to  business partners we know can help.

Please contact us if you require further explanations or if you are an existing client with an interest in organising a planning day with our team.