As the baby boomer generation embarks on retirement, with over 5,000 Australians turning 65 each week until 2030, a significant number of small business owners are contemplating their exit strategies. Annually, more than 50,000 business owners face the complex process of transitioning out of their businesses, whether through sales, family succession, or other avenues. Alarmingly, over half may encounter unplanned exits due to health issues, personal disputes, or financial challenges.
Effective Business Succession and Exit Planning is not just crucial, it is imperative. It is the key to unlocking your business's true value, harmonising your personal aspirations with your business objectives, and mitigating risks that could obstruct your exit strategy. With a well-thought-out plan, you can gain greater control over the timing of your exit.
After dedicating years to building a successful business, it's essential to ensure that your investment pays off and provides the financial rewards you aimed for. Don't leave your business's future to chance; plan ahead to secure the legacy you have built.
Presenter:
Dr Craig West, Founder & Chairman, Succession Plus
Host:
Shirley Ng, National Manager - International Competitiveness, Ai Group
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