Small-business owners invest blood, sweat and tears — not to mention time and money — into their companies. Putting a price tag on all that work may seem impossible. But in fact getting an accurate business valuation is essential to planning for your future, whether that means a succession plan, sale of your business or even your own retirement.
Successful family businesses can take a lifetime to build, but poor decisions around succession can rip the heart out of a business and a family in a fraction of this time. Handing over power to a new generation is a tricky process. If you plan to transfer your business to a family member you need to consider how this will affect the family unit as well as future business operations. Contact us
Retiring from your business which you have built up for many years can not only be an emotional milestone but also a financial and legal challenge. Getting it right is important for your future well being in retirement as well as the continuation and growth of your business. Recently I came across some statistics that showed that 31% of all small business owners are aged over 50. Additionally, in another