Succession: Taking your business to the next generation

HomeInsights

Succession: Taking your business to the next generation.


Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners.


When it comes to generational succession of a family business, there are a few important aspects:

  • Succession of the business;
  • Succession of the ownership of the business;
  • Succession planning/pathway; and
  • Moving from a business family to an investment family.


For generational succession to succeed, even if that succession is the sale of the business and the management of the sale proceeds for the benefit of the family, communication is essential. Where generational succession fails, it is often because succession has not been formalised until a catalyst event or retirement planning requires it.


Generational succession comes with its own set of issues that need to be dealt with:



Succession starts here.

Successfully managing generational change is a process we can help you navigate. Talk to us about how we can help to structure an effective transition path. 


CONTACT US CONTACT US


Yesterday

How to quickly improve your credit score

Your credit score is a track record of how you manage debts.


READ MORE READ MORE
22 May

What happens to your property after a breakup?

Before getting into the specifics of property division, it's important to understand the concept of legal ownership.


READ MORE READ MORE
21 May

Close The Dream Gap

Close The Dream Gap. Starting at age 5, many girls begin to develop limiting self-beliefs. They stop believing their gender can do or be anything. This is the Dream Gap.


READ MORE READ MORE


Related News

15 May

Federal Budget 2024 / 2025

Budget 2024-25 is a pre-election budget for the people with everyone getting a little something to ease cost of living pressures. For business, there is the extension of the $20k instant asset write-off again.


READ MORE READ MORE
13 May

Quick Ways To Boost Your Business’ Cash Reserves

Secured business loans play an important role in supporting small business owners.


READ MORE READ MORE
2 May

Accessing money in your SMSF

The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of SMSFs.


READ MORE READ MORE