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


4 Nov

Education Bonds: Saving for Private School

Darren and Jenny have one child and are planning for his secondary education at a Melbourne private school. Utilising education bonds, they aim to ensure they have sufficient funds to cover all tuition fees and associated costs throughout his education.


READ MORE READ MORE
4 Nov

Navigating Australia’s Bracket Creep: Strategies for Managing Rising Tax Liabilities

As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.


READ MORE READ MORE
30 Oct

5 things to know about car loan refinancing

Car loan refinancing involves replacing your existing car loan with a new one. The new loan pays off your existing debt, allowing you to start making payments on the refinanced car loan.


READ MORE READ MORE


Related News

4 Nov

Navigating Australia’s Bracket Creep: Strategies for Managing Rising Tax Liabilities

As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.


READ MORE READ MORE
14 Oct

Smart Financial Planning for New Parents: 9 Essential Tips to Manage Parenthood Costs

Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.


READ MORE READ MORE
19 Sep

Understanding the Taxable Payments Annual Report (TPAR): A Guide for Australian Businesses

The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.


READ MORE READ MORE