All businesses are focused on the now. But not all are focused on the future. Most people have a personal succession plan, but do not have a business succession plan. Formulating a business succession plan early facilitates an easier exit and more profitable sale, through the structuring of the business to consideration of internal influencing factors within the business. It comprises consideration of the transfer of management and control of the business and potential sale structuring and can, if done correctly provide tax minimisation during the succession period. As a by-product we often see that having a business succession plan in place reduces the likelihood of disputes within businesses as the lines of progression are clearly defined.
Stone Group Lawyers has the experience and the expertise to guide you through the process and has a strong referral network of accountants that can assist in the succession planning process.
If you have any questions regarding business succession planning or wish to discuss putting a succession plan in place, then call our office on 07 5635 0180 to claim your free consultation with Stone Group Lawyers.