Latest family business research from Marquette University Center for Family Business - Succession Plus

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Latest family business research from Marquette University Center for Family Business

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Latest family business research from Marquette University Center for Family Business

By , August 3, 2011
Small-Business-CGT-Concessions-Overview

More than half of family businesses do not have a written strategic plan – over 62% of respondents do not employ a formal process for constructing strategy and 57 % noted that their company does not have a written strategic plan.

More than half of regional family businesses do not have a buy / sell agreement – 52% of CEO’s indicated they do not have a buy / sell agreement in place for company shareholders.

68 % of businesses do not have a board of directors.

78 % do not have an advisory board.

41 % of CEO’s plan to retire within 5 years.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.