Exiting:
Before entering a business an owner needs to consider their exit strategy because at some stage an owner and the business will part company. - Too often the separation becomes messy as no clear succession planning has taken place. The business has to be considered to be an entity in itself, something that need to be able to survive after the current owner has moved on. Employees, suppliers and customers all have a stake holding in the company’s survival as they depend on the products or services provided.
- Structures, systems and processes need to be in place for a successful transition and the maximization of the value of the sales of the asset.
- WhiteSpaces MMS can assist owners plan and prepare for the transfer of a business. This will enable the asset to live on and maximized the return for the current owner. Even if the company is being passed on or sold to a family member WhiteSpaces MMS is qualified to assist, in separating the needs of family and the business. Roger Powell is an Accredited Advisor of Family Business Australia. So if you are not sure where to go with your succession arrangements, contact us for advice ad
