Level 3, 50 York Street, Sydney CBD NSW 2000
Succession Planning is actually about putting in place a strategic business plan for your business which allows you outline your business and personal goals and relates directly to your ability as a business owner to extract the maximum amount of value from your business when you exit, to provide for your retirement planning needs.
55 % of business exits in Australia are failures of some sort - bankruptcy, liquidation, divorce, death, receivership - a strategic business succession plan should ensure your business does not fall into this category. Many businesses find they need to grow, employ more people or raise capital as an initial step towards an exit or transition towards retirement. Many people underestimate the time involved in implementing a strategic plan for their business and therefore do not maximise the value of the business - If you do not have a strategic approach to business succession planning - any value you have been able to build into your business may well retire when you do!
It is clear that a vast number of business owners are not prepared for their succession and will end up making decisions at the last minute, with the likely outcome to be a poor result not only for the business owner, but the clients, suppliers and staff also. Most business owners go into business not only to earn an income, but also (and perhaps more importantly) to build the value of the business and to sell at a profit after a thorough business valuation. Our partners are experts in the accounting and tax, financial planning, legal and organisational management fields and combined can work strategically with your business over a period of time to ensure it delivers your retirement goals.
In fact, more than half of all small business owners in Australia plan to use their business as the primary source of funding for their retirement. The average age of family business owners in NSW today is 56 years - so for many, retirement is not too far off. For many owners, the value locked-up within their business is their second largest asset behind the family home, and in some cases it is even more valuable than the family home. Our process determines your business valuation and provides mentoring and advice to ensure that valuation matches your financial needs as a business owner
Yet while most people will happily invest time, effort and money planning for the sale of their home, they don't do the same with their business. Choosing to invest the time and effort to develop a strategic business succession plan based on professional business advice ensures that you realise the maximum value from your business when you retire may be one of the most important financial decisions you ever make.
Use business succession planning and family estate planning as the vital link... read more
Wed 30th May
Small Business Advisers, owners and supporters networking function Sydney CBD... read more
Wed 30th May
Succession is not just about ownership succession â€“ someone has to run the... read more
Tue 29th May
Looking forward to Succession Plus WA launch this afternoon with Wayne Bubb in... read more
Mon 28th May
72 % of Gen Y survey respondents want to own their own business â€“ what does... read more
Mon 28th May
Small Business Advisers Networking Function http://t.co/5saD9Lbv read more
Fri 25th May
LinkedIn Events: Small Business Advisers Networking Function... read more
Fri 25th May
Steve Coveys second habit is â€œBegin with the end in mindâ€ â€“ this means... read more
Thu 24th May
Proactive and holistic business advice should be what your accountant is... read more
Thu 24th May
The Enterprise Hub http://t.co/xIVKChBp via @EventEspresso read more
Wed 23rd May
Our Team Profiles
GAICD, B. Eng. (Civil) In her role as a trusted advisor, Linda gives business owners the guidance, support and direction they need to build a more valuable business, and to achieve their vision of growth, succession or exit. Linda has many years of experience working with owners to make their business more efficient, profitable and less reliant on their day-to-day involvement. Linda has achieved these outcomes through mentoring and coaching business owners and their key people. Lindaâ€™s specialisations in business structuring, building an effective board, strategy execution, reporting, process systemisation and leadership development are highly valued by her clients. The advice that Linda gives her clients is based on a track record of successfully achieving growth in established businesses and leading start-up business in key roles as the CEO, General Manager and Director of several enterprises. In relation to these businesses, Linda was also instrumental in achieving capital raisings totalling $11m. Her direct experience in leadership, consulting, advisory and project delivery roles in private and government organisations exceeds 10 years. In this time, Linda has gained insight across of range of industries including clean-tech, recycling, manufacturing, minerals processing, environment, professional services and retail. . Lindaâ€™s board advisory expertise is strengthened by her qualifications as a graduate of the nationally recognised and revered Company Directors Course and through her ongoing membership with the Australian Institute of Company Directors. Linda is also an adviser member with Family Business Australia and sits on the FBAâ€™s NSW Advisers Committee. Lindaâ€™s formal engineering qualifications also provide a disciplined and systemised approach to business management as well as significant experience in process engineering and workflow efficiency.
M.Tax Law, M. Bus (Acct/Fin), B.Bus (Mgmt), CPA Craig West is a strategic accountant who has built a specialised advisory practice focused on small business owners to help them face the four key strategic issues that SMEâ€™s face as they grow â€“ raising capital, building equity, protecting that equity and extracting the value you have built when you exit. Craig is a CPA and has been advising businesses in management, taxation and accounting issues for over 15 years. He specialises in business structuring and succession planning and has had extensive experience working with clients to improve their financial performance â€“with proven results. Craig has conducted numerous seminars and presentations throughout Australia for Department of Industry, Tourism and Resources, MLC, L J Hooker, the NSW Department of State & Regional Development, NSW Chamber of Commerce and CPA Australia. Craig is an accredited adviser with Family Business Australia as well as sitting on FBAâ€™s NSW advisers committee. Craig has appeared as an expert adviser with a weekly segment on the Alan Jones breakfast radio program in Sydney and was a founding member of Thought Leaders. Craig acts as a strategic business and financial mentor for business owners and has written three critically acclaimed books educating business owners on employee incentives, succession planning and asset protection and has recently been invited to complete a PhD in Business Succession Planning at Deakin University in Melbourne and is the President of the Australian Chapter of the Exit Planning Institute, and one of only five people in Australia accredited as a certified exit planning adviser.
Strategic Succession Planning
Please note that the following testimonials are collected, supplied and maintained by Succession Plus.
e-book covering our unique process to identify, protect, maximise , extract and manage the value in your business