Even if you are years away from leaving your business, planning your succession now will best enable you to capitalise on all your years of hard work. In fact, by planning your succession now you will be able to set and reach the highest goals possible for when you eventually choose to move on. Ideally you want to plan at least five years before you exit in order to maximise your exit value, but you can start planning even sooner than that. If you are too busy focusing on right now, Financial Framework are the answer to planning your business succession.
Carefully planning your business succession means you will be able to minimise your tax and secure your future income. Whether or not leaving your business coincides with your retirement, it can be a very important level of your financial framework. As well as this, with other people's livelihoods affected by your decision, your employees will appreciate the planning for a smooth transition. This will ensure you retain the top talent at your business, which will maintain or even increase its value.
Financial Framework will identify and explore the most lucrative option for you and your employees: whether you are aiming for a management buy-out, employee share scheme, or are planning on selling to competitors, suppliers or customers. In the event of a sale you want to retain as much of the proceeds as possible. We can protect your value by de-risking your business, and provide you with quality advice on important options like staged payments, superannuation and tax minimisation.
How you exit your business will be an important part of your transition to retirement. Don't be put off by the size and significance of the task. Financial Framework are experts in planning smooth business successions, and will help you to make the most out of your decision to move on. Call us today to find out how we can help.