Enjoy it – The Private Practice Magazine - Succession Plus

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Enjoy it – The Private Practice Magazine

Succession and Exit

Enjoy it – The Private Practice Magazine

By , February 17, 2015

The average amount needed to fund retirement in Australia today is at least $1 million, with 33% of business owners relying on the sale of their business to fund their retirement, it is a scary thought to think that 55% of all business exits are due to failure. So how do you sell your company successfully?  Start planning your exit now! Effective succession planning takes time and involves all areas of your business, many successful businesses have not been able to achieve a successful exit due to poor planning. Selling a business successfully requires a carefully considered plan that has been implemented gradually, and is constantly monitored and reviewed.

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.