Are you going to be able to sell your business?
How are you going to exit your business? Is your business going to be an important element in funding your retirement? What is the business actually worth and what can it be sold for?
If you are unsure on any of the questions above, then Walker’s Accountants & Advisers Succession Planning service is going to be of great value to you.
Based on years of experience in succession planning and business sales we are well aware that businesses are not always easily disposed of and business owners can often have overly optimistic views on the value of their business. Like anything in business, the future sale needs to be planned and managed. As a general rule, succession planning should commence at least five years before the intended date of sale.
Another vital aspect of selling your business is determining the true value of the business, making it possible to set an attainable price and selling strategy.
We work on strategies with business owners and set key milestones on what needs to happen and when to give the best possible chance of achieving a successful outcome.
Ring Walker’s Accountants & Advisers today to discuss the sale of your business and what you need to start doing now to get the best result for you as a business owner hoping to lead the retirement your years of hard work should entitle you to.
Another aspect of successful succession planning is the management of the Capital Gains Tax Liabilities that can arise on the successful sale of a business which has a significant goodwill component. Some steps for the successful management of the elimination of these potential liabilities need to be put in place years before the sale takes place to be effective, so long term tax planning is require to be successful.