Business succession planning in Ballarat
Have you considered what will happen when you are no longer willing and able to work in or manage your business?
A well-documented business plan should also take into account a business succession plan. Business succession planning should include retirement planning and identifying the exit strategies available.
Mulcahy & Co’s specialist business planners can help and support you in documenting effective business succession planning for your Ballarat business. This includes looking at potential buyers, family transition to the next generations, tax and risk minimisation, along with reducing the dependence on yourself as the current business owner.
As your retirement lifestyle may be directly linked to your exit from the business, business succession planning is an area that cannot be overlooked and it is never too early to start to plan. Whether you are starting a new business or going through a strategic planning process, business succession planning will give you peace of mind going forward.