Every business owner will eventually leave their business — by choice or by circumstance. Whether you're planning a sale, a handover to family, or preparing for the unexpected, a succession plan protects what you've built and ensures it passes on your terms.
Business owners are typically excellent at building value in their businesses — but succession planning is one of the things most commonly deferred until too late. Most have a vague idea of what they want to happen when they exit, but no formal plan in place.
The consequences of poor succession planning can be severe — disputes between co-owners, forced sales at the wrong time, significant tax liabilities, and family conflict that outlasts the business itself.
If you have a business partner, ask yourself: what happens if they die suddenly? Without a funded buy-sell agreement in place, you could find yourself in business with your partner's spouse, their estate, or a liquidator. We help co-owners put appropriate agreements and insurance structures in place to protect each other and the business.
The Australian tax system provides significant capital gains tax concessions for eligible small business owners exiting their business. These concessions can dramatically reduce or eliminate the tax on the sale of a business — but they have specific eligibility requirements and must be planned for well in advance.
We help you understand your eligibility and structure your affairs accordingly — before any exit occurs, not after.
Plan Your Business ExitA straightforward conversation with Geoff could give you more clarity than years of going it alone. There's no obligation — just honest, practical advice from someone who's been doing this for over two decades.
