Is the succession of your business part of your superannuation plan? How prepared are you ?
With an estimated third of our population aged over 50, the focus is beginning to shift to how to extract value from businesses that have been built up over the years.
With more and more baby boomers moving out of the market, we will be able to clearly see those who are prepared command a higher price. Poor performing businesses will have some price pressure detracted from their value. Some realise they have been left with a company that is unsaleable.
This is both an opportunity and a threat. So what can you do now to help ensure a smooth transition of your business from one owner to the next?
Get some help — discuss with your advisers, you accountant, lawyer and bankers.