When you first went into business, either buying an established enterprise or starting from scratch, probably the last thing on your mind was the day you would close the door for the last time. Client calling time out business? The tips and traps But it’s no use ignoring the inevitable, as one day you will leave the business – whether through pursuing another career, retirement, or even due to health reasons. It’s important to know what’s involved, and having a succession or exit plan can…
While it might be a tough topic to broach, it is inevitable that someday you will leave your business. You can’t know whether you’ll sell up, retire or leave due to health reasons, so is important that you prepare yourself for any eventuality. A recent nationwide survey by the Australian Centre for Family Business at Bond University found more than 40% of family businesses are looking to transfer their wealth and operations to other people in the next five years. But the survey also found…
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