Who does the best succession planning near Caulfield South?
Caulfield South is an affluent and vibrant suburb of Melbourne; home to many successful business people. Where do these business owners go if they want the best succession planning near Caulfield South?
The answer is easy. Ruth Watson and Associates are just around the corner waiting to help.
There’s no doubt that you’ve thought about retiring. This will mean letting go of a business you’ve put so much hard work into. You deserve to reap the benefits. With a strategic succession plan in place, you’ll have the best chance of securing your rewards in the future, but planning must start now. You need to capitalise on every opportunity as you head towards retirement.
You need the partners at Ruth Watson and Associates to get the ball rolling now.
The experienced team will:
- prepare your mindset,
- put strategies in place to maximise the sale price, and
- minimise your tax.
The reason you need help from professionals is that complications can arise during the process. These need to be worked through thoroughly.
This includes expert guidance:
- with the initial review,
- negotiating commercial contracts, and
- maximising the value of your business.
With Ruth Watson and Associates, you’re in good hands. They will look after the financial details so you can focus on value drivers.
A successful handover
A part of succession planning is the handover. Who will take over the business? How can you benefit the most after handover?
There are various options you have including:
- handing over the business to family
- handing it to an employee who is passionate about your business
- a business partner taking it over
- selling just the building (if you own it) and leasing the business to create ongoing income
- selling just the business and leasing the building (if you own it) to create ongoing income
These are decisions that can’t be made lightly. You need professional guidance.
You’re in the right place for the best succession planning near Caulfield South
Engaging Ruth Watson and Associates is the first step. By starting now, it will give your successor the time needed to prepare for the new work responsibilities, both now and in the future.
Let the experts draw up a comprehensive succession plan for you.
This will include:
- the financial implications, such as regular valuations to know your business’ current worth
- the operational side of the handover and your successor’s responsibilities
- training programs for your successor
- change in management training for the business
- addressing ownership legalities, changes in business structure, changes or transfers of licences or registrations
The team can sit with you and review your plan on a regular basis. This is an important part of planning because as you get closer to handover, your circumstances may change. You’ll need to ensure your succession plan is always up-to-date in case you need to leave earlier than you were planning to.
Let’s get started
The partners at Ruth Watson and Associates genuinely care about helping you achieve the most favourable outcome at handover. To capitalise on every opportunity, it’s important to start now.
You’ll have a plan that:
- is achievable
- has measurable milestones
- follows a timeline highlighting the transfer of responsibilities
- has solid communication and risk management strategies
- minimises tax and maximises the business’ worth
For the best succession planning near Caulfield South, you can’t go past the experts at Ruth Watson and Associates. The team will identify financial risks and opportunities, tick all the boxes, and make sure everything’s accounted for, so you can eventually step aside and reap the rewards you deserve.
Speak to Ruth Watson and Associates today.