Succession and Exit

Succession cover story – IFA

By Craig West, February 18, 2015

To ensure you can sell your own business for maximum value, you need to start early. External factors such as the GFC or the European crisis can have a devastating impact on the value of a business. Similarly, death, sickness, divorce or partnership disputes can send a seemingly successful business into administration. With 55% of all business exits being a failure, it’s imperative you start your succession plan now. This article details several key aspects that will enable you to maximise value and sell your own business successfully.

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.

Succession cover story – IFA

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