Business Succession and Exit Planning - What You Need To Know

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Business Succession and Exit Planning – What You Need To Know


Business Succession and Exit Planning – What You Need To Know

By , February 2, 2018

What is Business Succession and Exit Planning?

Succession and Exit Planning is a business strategy available to business owners to assist them in assessing the most appropriate (and valuable) exit options available to them and in designing a succession plan for achieving their preferred outcomes.

Succession Planning must be focused around 3 important factors:

  • Exit readiness and value maximisation for the business;
  • Personal and family wealth management to fund retirement and provide for future generations;
  • Life after business – preparing the owner (and often their family) for what might be several years of retirement.

Focus on these three critical aspects should ensure we’re able to maximise the value of business, achieve a successful exit and guarantee retirement funding and peace of mind for the owner.

To find out more about business succession and exit planning, contact us.

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.