Succession and Exit

A Big Issue – Sold Magazine

By Craig West, February 18, 2015

The average age of a family business owner in NSW is now over 58 years old, with 68% of these business owners planning to exit their business in less than 10 years’ time. What everyone wants to know is how to sell a company for maximum value. The most important thing to remember when planning your business exit is to start early! This article highlights Employee Ownerships Share Plans, or Employee Share Schemes as a vehicle to sell your own business to your employees.

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.

A Big Issue – Sold Magazine

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