The demand for business valuations is growing rapidly in the SME sector. Whether you are buying or selling a business you will always need a valuation report to determine the fair market value of a business – rather than just using assumptions. Other factors which would require a business valuation to be conducted include –
a) Family and Relationship breakdown – Disputes such as a divorce would require a business valuation as part of proceedings.
b) Business Restructuring – Business owners may need to restructure their business when they encounter any crisis. Stakeholders would explore various options to get the business back on the right track and each option would impact the business differently.
c) Transactional Retirement Planning – Quite often business owners may want to cut down on the number of working hours but still maintain and receive a healthy passive income from the business (i.e. in the form of Dividends).
d) Management Purposes – Other Business owners may take a proactive approach by conducting a business valuation report on a regular basis (generally every 1 or 2 years) in order to protect, transform and maximise the value of their business before the time of sale or retirement.
We are currently conducting a Business Risks survey for Legal Firms who are mainly between the $1m to $5m Turnover mark. The purpose of this survey is to identify your Business Risks to improve the performance of your Business.
Around 70% of the SME businesses are family owned. However, a majority of first generation family businesses have no succession plan. Common reasons include resistance by the owner to let go of the reins, fear of retirement or inability to find or choose an effective successor.
Succession planning involves transferring ownerships and control of a business to new management. The three main options are: Transferring ownership to a family member, transferring ownership to an employee or disposing of the business through a sale, management buy-in /out or voluntary liquidation.
Transferring ownership can be very emotional and complicated, which is why often it is ignored until it becomes a pressing line, such as when the owners suffer illnesses or simply age becomes a factor to continue running the business.
A good succession plan needs to be communicated well and structured effective to other key players within your business. This could include your family members, staff and professional advisors. It is important to seek expert advice on every aspect of relinquishing ownership of your business – whether from Capital Gains Tax, Superannuation, or post investment strategy perspectives.
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The demand for business valuations is growing rapidly in the SME sector. Whether you are buying or selling a business you will always need a valuation report to determine the fair market value of a business – rather than just using assumptions. Other factors which would require a business valuation to be conducted include –
a) Family and Relationship breakdown – Disputes such as a divorce would require a business valuation as part of proceedings.
b) Business Restructuring – Business owners may need to restructure their business when they encounter any crisis. Stakeholders would explore various options to get the business back on the right track and each option would impact the business differently.
c) Transactional Retirement Planning – Quite often business owners may want to cut down on the number of working hours but still maintain and receive a healthy passive income from the business (i.e. in the form of Dividends).
d) Management Purposes – Other Business owners may take a proactive approach by conducting a business valuation report on a regular basis (generally every 1 or 2 years) in order to protect, transform and maximise the value of their business before the time of sale or retirement.
Around 70% of the SME businesses are family owned. However, a majority of first generation family businesses have no succession plan. Common reasons include resistance by the owner to let go of the reins, fear of retirement or inability to find or choose an effective successor.
Succession planning involves transferring ownerships and control of a business to new management. The three main options are: Transferring ownership to a family member, transferring ownership to an employee or disposing of the business through a sale, management buy-in /out or voluntary liquidation.
Transferring ownership can be very emotional and complicated, which is why often it is ignored until it becomes a pressing line, such as when the owners suffer illnesses or simply age becomes a factor to continue running the business.
A good succession plan needs to be communicated well and structured effective to other key players within your business. This could include your family members, staff and professional advisors. It is important to seek expert advice on every aspect of relinquishing ownership of your business – whether from Capital Gains Tax, Superannuation, or post investment strategy perspectives.
